Hedera Price Tests Key Support As HBAR Prepares for Potential Upside Reversal

Key Insights:

• HBAR price is holding near $0.098, a key Fibonacci level for a potential bullish reversal.
• Hedera’s new satellite IoT deal expands DePIN reach to trillions of devices.
• Derivatives show neutral funding and low open interest, favoring a spot-driven rally.

Hedera price continued to consolidate under pressure this week, hovering around the $0.15

zone with a key support forming at $0.098. The critical turning point has been preceded by the technical patterns, and a rebound off this area might trigger another impulsive phase towards $0.25, and higher. In the meantime, on the fundamentals front, structuring IoT collaborations has bolstered key metrics.

Hedera Price Extends Correction, But Bounce Zones Hold

Analyst Nology highlighted an extended corrective phase in HBAR price, following a textbook WXYXZ complex wave structure. In the 4-hour chart, the price dynamics form a descending trend ever since its late 2024 high of about $0.58. The ongoing decline seems to be entering the end phase of correction, with two Fibonacci levels, 0.5 and 0.382, acting as the foundations of turning movement.

The 0.382 Fibonacci, aligned with the $0.098 zone, is considered a historical support in HBAR’s structure. According to the wave count, this area might become the end of a larger corrective wave Y. If Hedera price fails to break below, the chart shows a path forming for a new impulsive wave that targets the $0.30 to $0.38 zone in later phases.

So far, HBAR price has tested $0.15 multiple times without a deeper breakdown. Acting on the bullish change of direction scenario, a strong response in this region will confirm the reversal case. However, failure to hold above $0.098 could result in wider downward extension.

Hedera’s Satellite IoT Alliance Adds Ecosystem Strength

In parallel, Hedera’s network fundamentals were reinforced this week through a new strategic collaboration between WISeSat.space and Astrocast. The partnership grants WISeSat access to over 20 nanosatellites, strengthening Hedera’s DePIN (Decentralized Physical Infrastructure Network) capabilities.

Carlos Moreira, the CEO of the parent company of WISeSat, noted that such integration will sustain the global-scale IoT infrastructure and will empower trillions of devices. Mark Chadwick further emphasized that this deal positions Hedera to process “quadrillions of transactions” across connected ecosystems in the future.

Despite this bullish narrative, HBAR price has not yet responded, likely due to macro consolidation and broader altcoin retracement cycles. Nonetheless, the partnership has enhanced investor sentiment around Hedera’s long-term roadmap.

Derivatives Cooling Shows Shift Toward Spot Accumulation

However, Coinglass data revealed a contraction in HBAR’s derivatives metrics. The open interest decreased by 6.16% to 205.25 M, and the trading volume reduced 12.52% to 218.55 M. This lessening of leverage in the system normally signals a state of movement into the accumulation zones.

The funding rate for HBAR perpetual contracts remains near neutral, oscillating around zero, with no sustained negative bias. This indicates no substantial short-selling pressure and a fairly neutral long/short positioning. The 24 h long/short ratio among the exchanges totals 0.9157, indicating the neutral projection.

Binance-specific data revealed high long/short ratios of accounts, a reading of 2.2971, in contrast to the top traders, which remain less aggressive at $0.689. The discrepancy suggests that retail market sentiment could be somewhat bullish, yet larger accounts could be defensive, possibly awaiting structural confirmation.

In the meantime, liquidation data indicated just 36.36K in shorts liquidated in 24 hours against 207.62K in longs. There is also a lack of panic liquidation that reaffirms that traders are not over-committed in either direction, and a move beyond this zone is bound to be spot-led.

Hedera Price Hinges on $0.098 Reaction and Volume Shift

As HBAR price nears the critical $0.098 Fibonacci support, its response in the coming sessions will likely dictate short-term direction. Bouncing in this zone would prompt an impulsive recovery run to the resistance level of $0.186 and maybe up to $0.25 during Q3.

In the bullish scenario, a wave-1 breakout is observed to be formed between July and August, and at both $0.30 and $0.38, there is a cluster of resistances. To achieve this, the volume has to rise significantly and the structure has to confirm underlying lows.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.