HBAR Price Hits Key Support as Network Metrics Signal Deeper Decline

Source: CryptoNewsNet Original Title: HBAR price hits key support as key metrics point to a deeper dive Original Link: https://cryptonews.net/news/analytics/32307559/

Market Overview

HBAR price has continued its strong downward trend, hitting a crucial support level at $0.1037 as the broader crypto market retreat gained momentum. The token has erased all gains made earlier this year and dropped 65% from its highest point in July last year.

Network Metrics Deterioration

Key on-chain indicators paint a concerning picture:

• Total Value Locked (TVL): Plunged to $61.5 million, down 7.65% in the last 30 days from an all-time high of over $205 million—the lowest level since November 2024
• Stablecoin Supply: Dropped 16-17% in the last seven days to $49 million, significantly lower than competing chains like Sui, Sei, and Aptos
• ETF Performance: The Canary HBAR ETF has struggled, with net assets standing at only $57 million despite cumulative inflows exceeding $85 million

The declining stablecoin supply is particularly notable given the industry-wide growth, with total stablecoin market capitalization exceeding $300 billion. This is especially significant as Hedera recently launched Stablecoin Studio to help companies launch and operate their own stablecoins.

Technical Analysis

The daily timeframe chart reveals a descending triangle pattern formed over recent months, with price declining from $0.3045 in July to current levels around $0.1085.

Pattern Composition:

• Horizontal support level
• Descending trendline connecting highest swings since September last year

Technical Indicators:

• Price remains below the 50-day and 100-day Exponential Moving Averages
• Supertrend indicator confirms downward pressure

Outlook: Based on technical structure, HBAR could potentially decline further to the key support level at $0.0850.