Hederaâs recent pump has caught attention, but zooming out tells a different story. Price is tapping into a familiar technical zone that previously triggered a major drop, but will history repeat itself?
Despite a short-term rally, Hedera (HBAR) continues to trend lower on the higher time frames. The current price action mirrors a past setup that resulted in a significant macro lower high. This historical parallel presents a technical case for caution, especially as Hedera tests a critical resistance zone.
Key technical points
Hedera is currently trading at the point of control and 0.618 Fibonacciâidentical confluence to the last macro lower high.
Volume remains below average, failing to support a sustained breakout.
No daily candle closures above resistance confirms it as a valid rejection zone.
HBARUSDT (4H) TimeFrame Source: TradingView
The high time frame structure for Hedera remains clearly bearish. Price action has been following a consistent pattern of lower highs and lower lows. The last major swing high formed when price tapped into the point of control and 0.618 Fibonacci retracement, exactly where Hedera is now.This type of confluence is significant because it signals a zone where sellers have historically taken control. Currently, the volume profile shows no strong buy-side aggression, and the market is approaching this resistance with muted momentum. Without a convincing close above the level, this is simply another test of resistance within a larger downtrend.
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The risk here is that this setup forms a new macro lower high, opening the path for a continuation move downward. The next key support below the current swing low sits at $0.12. A break below that would confirm the next leg down in this ongoing bearish structure.
What to expect in the coming price action
If Hedera confirms a rejection here, especially with a strong daily close below resistance, then itâs highly likely that weâll see a rotation back toward the $0.12 region. This would not only continue the downtrend but also establish a fresh lower low.
However, if the resistance is broken with volume and sustained candles, it could flip the bias temporarily bullish. But until then, trend traders will view this as a short opportunity at key resistance.
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With an estimated 16 million cryptocurrency investors representing 36% of South Koreaâs voting population, presidential candidates are aggressively courting the crypto community ahead of the June 3 election.
According to a report by Point Daily, crypto votersâ political significance has grown as Bitcoinâs market capitalization in Korea now exceeds 2,600 trillion won. This has rivaled the combined value of KOSPI-listed companies.
As Point Daily notes, these 16 million investors account for a substantial portion of the countryâs approximately 44.25 million eligible voters from the previous general election.
Major parties are using crypto-specific strategies to attract these voters. The Democratic Party has brought Professor Kim Yong-jin of Sogang University, a token securities expert, into their campaign team. Representative Min Byeong-deok of the same party has introduced a draft Basic Digital Asset Act that includes provisions for a stablecoin authorization system linked to legal tender.
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The People Power Party, which confirmed its candidate on June 3, has shared seven major crypto-related initiatives. This includes abolishing the restrictive one-exchange-one-bank system, institutionalizing virtual asset trading for corporations, allowing spot ETF trading within the year, and establishing South Korea as a global virtual asset hub.
People Power Party candidate Kim Moon-soo specifically addressed the frustration of investors. He stated that about 16 million people, or one-third of the population, are participating in the virtual asset market, but virtual asset investors are being left without even the minimum protection measures.
Separately, Joseilbo reported that the Financial Services Commission announced that non-profit organizations and virtual asset exchanges will be permitted to sell their virtual assets starting in June, provided they establish internal review mechanisms and strengthen anti-money laundering protocols.
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