$HBAR

Hedera (HBAR) Counts on Bitcoin to Break Out of Month-Long Consolidation

Hedera price remains in a month-long consolidation between $0.25 and $0.33, with fluctuating funding rates reflecting uncertainty among traders.

HBAR’s 0.65 correlation with Bitcoin suggests that its breakout potential is dependent on Bitcoin reclaiming the $100,000 level and continuing to rise.

Trading at $0.27, HBAR is at risk of falling below $0.25 if the downside momentum continues; $0.33 turning into support could target $0.39 for recovery

HBAR is trading at $0.27, stuck in a monthly consolidation range between $0.25 and $0.33. This sideways move reflects indecisiveness among both traders and broader market conditions. Without a clear shift in sentiment, this pattern is likely to continue.

If the overall market sentiment turns more bearish, HBAR risks falling below the critical $0.25 support level. Such a move would further increase traders’ impatience and push the altcoin towards further losses.

Conversely, if Bitcoin manages to recover and reclaim key levels, HBAR could break out of its consolidation phase. Turning $0.33 into support could pave the way for a move towards $0.39, helping the cryptocurrency recover and invalidate the bearish outlook. This reliance on Bitcoin’s performance highlights the importance of broader market trends in determining HBAR’s trajectory.