HBAR Analyst Warns: ‘No Sign We’ve Bottomed’ Despite Support

The commentator highlights that Hedera’s native asset is “trying to stabilize” above its early-February swing lows while trading inside a sideways consolidation.

The critical level, in their view, is a Fibonacci support band between $0.078 and $0.092, which HBAR continues to respect despite a series of lower highs and lower lows.

The analyst frames the current move as part of a broader Elliott Wave structure, suggesting the upside from earlier in February may have been an ABC pattern within a larger Wave 4. The latest decline, they argue, is “clearly some kind of a corrective pullback” that fits better as a WXY formation than a simple ABC to the downside.

On the chart, HBAR appears to be drifting in a loose downward channel rather than a clean wedge.

More Crypto Online says an “early signal that a low of sorts is in place” would be a decisive break above a descending yellow trendline sitting around the $0.10 mark. Until that happens, they caution, “there is absolutely no sign at this point that HBAR has stabilized.”

If HBAR can reclaim that trendline and print a first “micro five-wave move up,” the analyst would then look for a C-wave rally. Using classic extension tools, the initial target for such a move is the 100% extension of the prior A-wave, landing near a resistance area around $0.137.

However, they stress that this projection is conditional. Any further downside would force a recalculation and could shift that target, as the market has not yet signaled that a low is in. For now, the move is treated as “just a correction,” and the stance remains cautious.

For traders, the message is clear: the chart still leans corrective, not impulsive. A confirmed break above $0.10 and a visible five-wave push higher would be the first technical hints that HBAR might be ready for a more meaningful bounce.

Dig into DailyCoin's trending crypto scoops today:
Stellar’s XLM Price Has a Habit: Sudden Re-Ratings, Then Long Drift
Grayscale Chief Drops XRP Bomb: Floodgates Are Wide Open