Cryptocurrency analyst Jesse Olson has identified a worrying pattern in Hedera’s price movements. The technical structure indicates that HBAR may be about to contract. After a few months of rise last year, HBAR entered a period of uncertainty, with prices ranging between $0.25 and $0.31.
The price action was particularly telling. HBAR price tested the $0.31367 level repeatedly Resistance level But he failed to penetrate it convincingly. This continued rejection at higher levels, combined with increasing selling pressure, paints a potentially bearish picture for the token.
“The bearish divergence has not yet been removed.” Olson notesto highlight one of the many red flags in HBAR’s technical structure. The appearance of a pending sell signal on the daily chart adds weight to the bearish situation.
What is particularly worrying is that three out of four price targets have already been achieved, leaving only one crucial support level standing between current prices and a potential sharp decline.
Read also: Indicator signals bullish recovery for Bitcoin (BTC) price, but key support must hold first
Focus on critical Hedera price support
The $0.25 level has emerged as a battleground between the bulls and the bears. This support area has so far been able to contain selling pressures, but its strength is being tested. Olson warns that if this final support breaks, HBAR could see a dramatic downward move, which could push prices below $0.15.
The ongoing bearish divergence and recent price action suggest that lower levels may still lie ahead for HBAR. This could be reversed if more buyers intervene.
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