Hedera Tests Key Resistance Level Amid Potential Macro Lower High Formation

Hedera: Testing Key Resistance Levels Again—Is Another Lower High Coming?

Have you been watching Hedera (HBAR) lately? It’s been a rollercoaster. Right now, HBAR is facing a critical point, and what happens next could set the tone for the coming weeks.

Let’s dig into what’s happening with Hedera and what you should keep an eye on.

Understanding Hedera’s Current Situation

HBAR’s journey has been tough recently. After hitting local highs in mid-May, prices have pulled back. Right now, Hedera is trying once again to climb over an important resistance area at around $0.087.

But here’s the thing—this isn’t the first time HBAR has tried to break through this level. Every time, sellers have pushed it back down.

This pattern makes many traders wonder: Is another macro lower high forming?

What’s a Macro Lower High?

If you’re new to crypto trading, the term “macro lower high” might sound confusing. Let’s break it down.

Picture a staircase that’s going down instead of up. Each “step” (or price rally) is lower than the previous one. That’s what a macro lower high looks like on a price chart.

In plain terms:

• Prices rise, but not as high as before
• Then prices fall again
• Over time, a downtrend forms

HBAR could be doing exactly this—making another lower high before another dip.

The Battle at Resistance

Resistance levels are like invisible ceilings that stop prices from rising. For Hedera:

– $0.086 to $0.087 is the current ceiling
– Past attempts to break through have failed
– Each rejection has led to lower prices

Right now, Hedera is trading slightly lower after touching that ceiling once again.

If you’re thinking of investing, you might want to ask yourself: Can HBAR smash through this time—or will history repeat itself?

Recent Price Action: The Story So Far

Let’s zoom out for a second.

Earlier in 2024, Hedera saw a nice rally. Excitement built up around partnerships and new projects. HBAR ran up to about $0.11.

But after reaching those highs, the excitement cooled off. Prices slid back down and made lower highs along the way.

Now, even with positive news coming out about network growth and collaborations, the price is stuck below key resistance.

This tells us that the broader market is cautious right now, not just about Hedera but about altcoins in general.

Keys to Watch Going Forward

If you’re wondering what to look for with Hedera next, here are the major points:

1. Breakout or Breakdown

If HBAR can finally close above $0.087 with strong trading volume, that would signal strength. It could open the door for a move towards $0.10 or even higher.

But if it gets rejected again, it might slip back to:

• Support around $0.078
• Critical support near $0.072

A failure here would be another lower high in the books, not a good look for bulls.

2. Broader Crypto Market Trends

Hedera doesn’t move in a vacuum. Bitcoin and Ethereum set the mood for most of the crypto market.

If Bitcoin stays strong, altcoins like Hedera have a better shot at breaking resistance. But if Bitcoin stumbles, it could drag HBAR (and others) down with it.

3. News and Announcements

Hedera has done pretty well this year in terms of partnerships and real-world use cases.

Big announcements could light a fire under HBAR prices. Keep an eye out for news from:

– Large corporations building on Hedera
– Major governance council updates
– New token launches or staking opportunities

Big news can sometimes overpower technical resistance—even if just temporarily.

So, Is Now a Good Time to Buy Hedera?

That’s the million-dollar question, right?

The answer really depends on your style and risk tolerance.

If you’re a cautious trader, you might want to wait and see if Hedera can close decisively above resistance before jumping in.

If you’re more aggressive, you might look for bullish signs like higher lows or increased buying volume to get in early.

Either way, it’s important to set clear stop-loss levels so you can manage your risk.

A few quick tips if you’re thinking of trading Hedera right now:

• Use small position sizes if you’re unsure
• Don’t chase green candles—wait for pullbacks
• Watch trading volume closely

Final Thoughts

Hedera is at a crossroads. Testing a key resistance level after a pullback could either lead to a breakout—or another disappointment.

It’s a critical time, and the next few days or weeks could tell us a lot about where HBAR is headed next.

Before making any moves, ask yourself:

– Am I buying because of strong fundamentals and a good chart setup?
– Or am I reacting out of FOMO (fear of missing out)?

A smart plan today can protect your wallet tomorrow.

What move are you planning to make with Hedera?

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