HBAR Eyes $0.20 Amid Falling Wedge Breakout

News Flash 2026-05-16 16:26

HBAR is consolidating above a falling wedge support structure, with analysts identifying $0.103 as the next major resistance level. The token traded near $0.0916, down 2.64% over the past 24 hours. Despite weak momentum, chart analysts suggest a potential rebound if buyers defend the critical support region between $0.088 and $0.090. Technical analyst Butterfly noted that HBAR is stabilizing above a falling wedge pattern on the two-day chart, often associated with reversal setups after downtrends. The Relative Strength Index (RSI) at 36.45 indicates weakening momentum, though not yet oversold conditions. Holding above the current support range could allow HBAR to attempt a move toward $0.103 resistance. However, More Crypto Online shared a cautious outlook, noting the rebound from March and April lows lacks strong impulsive behavior. A breakdown below $0.087 could weaken the recovery structure, potentially triggering a decline toward $0.078.

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