The post Hedera Poised for a Breakout Attempt Toward $0.23 as Bulls Defend Support appeared on BitcoinEthereumNews.com.

After enduring a volatile week in the broader crypto market, Hedera finds itself at a key technical juncture. The token briefly dipped below critical support levels before staging a mild rebound, signaling both investor caution and the potential for a short-term turnaround. While buyers are attempting to defend the $0.17 region, analysts warn that failing to reclaim the $0.21 threshold could extend the bearish momentum that dominated recent sessions. HBAR Needs to Reclaim $0.21 to Stay Bullish According to Steph is Crypto, HBAR’s short-term outlook depends heavily on its ability to recover above the $0.21 mark, which serves as a key “bull market support band.” The 3-day chart shows price falling sharply below this range, suggesting weakening momentum after multiple failed attempts to sustain higher levels. Source: X Steph notes that unless the coin quickly reclaims $0.21, the structure risks turning fully bearish, opening the door to deeper corrections toward the $0.17–$0.16 zone. However, traders observing historical behavior may recognize that similar shakeouts have preceded strong rebounds in prior cycles, provided a swift recovery and close above key moving averages occurs. Price Steadies Near $0.17 Amid Mild Recovery On one hand, Fresh data from BraveNewCoin shows Hedera is currently priced at $0.17, marking a modest 1.65% gain over the last 24 hours. The network holds a market capitalization of $7.17 billion and a 24-hour trading volume of $324.5 million, reflecting an active yet cautious trading environment. Source: BraveNewCoin Despite recent volatility, this stabilization near $0.17 offers temporary relief after Friday’s steep correction. Still, the data confirms that market participants remain wary, as the coin trades below its 20- and 50-day moving averages — a setup that typically indicates ongoing consolidation or potential retests of lower supports before a reversal can form. Recovery Signs Emerging After Sharp Selloff On the hand,…

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Filed under: News - @ October 12, 2025 10:06 pm