Hedera’s native token, HBAR, is currently under renewed selling pressure across the broader cryptocurrency market, experiencing a nearly 1% decline over the past 24 hours to trade around $0.092. This recent downturn has pushed HBAR below the significant $0.10 psychological threshold, extending its retreat from last week’s highs. The decrease in daily trading volume by 13% further underscores the prevailing bearish sentiment, as altcoins broadly reflect a wider downturn in risk assets.

Despite ongoing developments such as increasing enterprise adoption and network utilization for Hedera, short-term price movements suggest potential for further depreciation. Analysts are observing HBAR’s trajectory, noting its potential to mirror Bitcoin’s recent pattern of retesting critical support levels before a recovery. Warnings indicate a possible 20% drop from current valuations, which could see the token revisit the $0.070-$0.075 range—a level that has historically served as a robust bounce-off point. This bearish outlook is largely fueled by renewed selling pressure amidst global economic uncertainties, including elevated US inflation figures that have unsettled traders.

Technical analysis of HBAR’s short-term chart reveals a bearish structure, with the price currently testing its 50-day exponential moving average (EMA) and forming successive lower highs since its recent rejection at the $0.11 peak. The Relative Strength Index (RSI) on the daily timeframe is positioned near the 50-mark but shows a downward slope, hinting at a potential move towards oversold conditions. Should buyer conviction remain weak and a bullish divergence fail to materialize, HBAR could indeed descend towards the $0.070-$0.075 support zone, marking a potential 20% reduction from its current price.

However, the broader technical landscape suggests a phase of accumulation rather than an outright bearish breakdown, particularly if HBAR manages to sustain its position above the $0.090 level. Such resilience could pave the way for upside targets, initially eyeing $0.12 and then potentially $0.15. This upward momentum could be bolstered by a potential rally in Bitcoin and growing demand from crypto investment funds. For instance, a spot Hedera ETF has reportedly seen consistent net inflows since its launch, indicating sustained institutional interest and contributing to the token’s long-term prospects.