In early July, the HBAR price broke out of a long-term downtrend, igniting for many shot-term holders. Hedera token surged by nearly 90% in a short time, moving from around $0.13 to just under $0.25. This move followed Bitcoin’s breakout as well, which helped fuel momentum across the market.
However, the bullish run didn’t last. After the strong spike, HBAR crypto began to stall. As Bitcoin itself started losing strength, HBAR followed, slipping into a gradual decline. The rally that once looked unstoppable suddenly hit a wall, and the Hedera price has been trending lower ever since.
$0.23: The Support Level That’s Holding Everything Up
Right now, the entire bullish structure appears to hinge on a single level. The $0.23 zone has acted as a solid support since mid-July. Price has tested that area multiple times but has not broken below it yet. As shown in the chart, HBAR is holding just above this support, with the most recent daily close around $0.24786.
The chart also shows that this $0.23 support aligns closely with the breakout level from the earlier downward trend channel. If the Hedera token fails to hold this zone, it could retrace the entire move upward, putting the next downside target near $0.13. That would represent a drop of more than 40% from current levels.
The measured target of this possible breakdown is clearly marked on the chart, and it shows how quickly gains could be erased if buyers fail to defend this level. Price is currently bouncing slightly, but without strong volume or follow-through, this support remains at risk.
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Losing the $0.23 level could send a strong bearish signal as the area looks like a strong key decision point. If it fails, confidence in the short-term recovery of HBAR crypto could drop sharply.
For now, the Hedera price is at a crossroads. Either it confirms the breakout with a bounce and renewed momentum, or it breaks down and faces a steep correction.
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