HBAR Forms Falling Wedge Amid Market Downturn

Hedera's native HBAR token has been struggling in recent market downturns, plummeting by about 4% in 24 hours. However, this decline may have formed a classic falling wedge pattern.

A crypto charter named Gopal noted that 'selling pressure is fading as price compresses toward the wedge apex, while buyers continue defending support aggressively.'

For HBAR to hold above $0.066 and reinforce its first target at $0.072, demand must match the bullish narrative. Looking at on-chain metrics, retail and crypto whales appear cautious about calling a bottom.