Hedera’s native token, HBAR, recovered from a low of $0.0781 on June 6 and briefly rose above $0.082. However, after this move, the momentum weakened and the price started to trade in a narrow band again. Although the data shows that capital inflows into the market continue during the recovery, HBAR still remains below some of the levels lost in the previous decline.
Buyers come forward again in the $0.078 region
Analyst DaVinciGraph drew attention to HBAR after the strong rise in the last 24 hours. According to CoinGecko data, the token traded around $0.0815, up approximately 3.9% during the period under review. The price later climbed above $0.082, but it gave back some of the rise.
The charts revealed that HBAR first traded below $0.079, followed by a stronger recovery above $0.080 towards the $0.081 region.
The formation of higher lows in the intraday outlook indicated that demand was strengthening after the previous pullback. Trading volume also increased after the bottom on June 6. While this movement carried the price to $0.082, it was reported that the buying pace slowed down after the said region was reached.
Mini dictionary: Chaikin Money Flow is an indicator that shows whether money inflow or outflow is dominant in the market by evaluating price and volume data together. Values above zero generally indicate that buying pressure exceeds selling pressure.
Capital flows supported the recovery
TradingView data showed the HBAR price at $0.08146 at press time. The 30-minute chart shows the price trying to stabilize around $0.078, following a broader decline that started from levels above $0.095 in early June.
The Chaikin Money Flow indicator reached the level of 0.16. This value indicated that the buying pressure exceeded the selling pressure in the measured period. According to BraveNewCoin data, HBAR increased by 2.96% in the last 24 hours to $ 0.0814. During the same period, the price moved between $0.07811 and $0.08244, while the daily trading volume was $67.33 million.
Hedera is known as a network that focuses on distributed ledger technology. According to the data, the market value of the network is approximately 3.52 billion dollars. The amount of HBAR in circulation was recorded as 43.37 billion units. The token is still trading approximately 85.8% below its peak of $0.57 in September 2021.
| Indicator | Value |
|---|---|
| current price | $0.0814 to $0.08146 |
| 24 hour interval | $0.07811 to $0.08244 |
| 24 hour change | 2.96% to 3.9% increase |
| Daily volume | $67.33 million |
Momentum weakened below $0.0825
Although capital flows remained positive, the MACD indicator indicated that the recovery was losing strength. While the MACD line remained at 0.00014, the signal line was found at 0.00027. The histogram’s return to minus 0.00013 also showed that the short-term bullish momentum was weakening as the price approached the upper intraday band.
According to the data, the immediate resistance zone for HBAR occurred between $0.082 and $0.0825; In the last rise, buyers could not sustain above this area.
According to TradingView data, if there is a permanent break above $0.0825, the $0.085 level may come to the fore again. This level had acted as support before the recent decline accelerated. In the downside scenario, $0.080 is the closest support. If this level is lost, the intraday low of $0.0781 on June 6 may be retested.
