The native token of Hedera, HBAR, has experienced a significant price decline, dropping over 25% in the past two weeks. However, HBAR has reached a crucial support level where it has historically seen price reversals. Technical analysis suggests that HBAR is forming an ascending triangle pattern, with the token consistently taking support from the ascending trendline. Based on market sentiment and historical price momentum, there is a possibility that HBAR could increase by 25% to reach $0.37 in the near future. However, if HBAR fails to hold this support level and closes below $0.287, a price drop of over 35% could occur. Despite the recent decline in price, there has been continuous accumulation of HBAR by long-term holders and investors. Data shows that over $10 million worth of HBAR has been withdrawn from exchanges in the past 48 hours, indicating potential buying pressure and the possibility of an upside rally. At present, HBAR is trading near $0.30 and has seen a decline of over 4.5% in the past 24 hours, along with a decrease in participation from traders and investors by 25%.



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