Hedera (HBAR) is currently forming a WXY corrective pattern, signaling extended market consolidation. Technical analysis indicates a decisive breakout above the $0.107 level is needed to signal a potential recovery, while current indicators like the MACD and narrowing Bollinger Bands suggest waning bearish momentum. The token trades at $0.09465, testing key support.
The asset Hedera (HBAR) appears to be forming a WXY corrective pattern on Monday, March 9, a technical structure indicating extended market consolidation. According to data from More Crypto Online, this pattern suggests the token is experiencing a series of swings rather than a clear trend.
The ongoing oscillations indicate that additional downside remains possible. Market participants must remain vigilant before assuming the asset has stabilized.
Analysts have identified the green signal line at the $0.107 level as crucial. A strong breakout past this level could indicate that the token is trying to build a solid base.
Until HBAR can sustainably rise above $0.107, the consolidation pattern remains in place. The chance of further declines should not be ruled out.
According to TradingView, HBAR is displaying an ongoing downtrend followed by consolidation at the lower Bollinger Band. Currently trading at $0.09465, the asset is holding below the 20-day SMA at $0.09820.
The MACD is showing decreasing bearish momentum but still has both lines in negative territory. For the trend to reverse, HBAR needs to break past the $0.10309 resistance level.
