Hedera HBAR Price Drops as Bitcoin Correlation Hits Low

Background: HBAR’s Recent Price Struggles

Hedera’s native cryptocurrency, HBAR, is currently facing challenges in maintaining upward momentum after a recent rebound failed to yield strong gains. The hedera hbar price correlation with Bitcoin has declined, which analysts highlight as a sign of the token moving independently from the broader crypto market. At the time of reporting, HBAR is trading near $0.220, just above its crucial support level of $0.219. The asset recently tested the breakout from a descending wedge pattern but has not sustained meaningful upside movement.

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Correlation With Bitcoin Reaches Two-Month Low

HBAR’s correlation with Bitcoin has slipped to 0.48, marking the lowest point seen in the last two months. This weakening relationship suggests that HBAR price movements have become less tied to Bitcoin’s price actions. While independence could bring unique upward rallies, it often increases vulnerability during periods of heightened market volatility. According to analysis, altcoins such as HBAR have historically performed well when closely following Bitcoin’s market surges. “This divergence could hurt HBAR’s near-term outlook,” reports CryptoNews.net, as Bitcoin approaches its all-time high prices.

Technical Picture and Market Sentiment

On the technical analysis side, HBAR’s Relative Strength Index (RSI) is struggling to rise above the neutral 50.0 threshold. A breakout above this level would signal stronger bullish momentum, but HBAR has failed to retake this point as support, indicating uncertainty among traders. Should the RSI dip lower, analysts warn the token would move into bearish territory, limiting recovery prospects and suggesting a lack of buying interest. If bearish pressure increases, the hedera hbar price correlation weakness could prompt a decline toward $0.206, testing the lower boundary of the ongoing wedge pattern and extending the consolidation phase.

Possible Scenarios and What’s Next for HBAR

If buyer sentiment strengthens, HBAR could bounce from the $0.219 support and aim for resistance at $0.230. A breakthrough above this level would confirm a successful breakout and possibly propel the price up to $0.242, which could invalidate the current bearish outlook. However, if the decoupling from Bitcoin continues during a period of broader market gains, HBAR may miss out on sector-wide upward momentum. Investors are monitoring both the technical indicators and the hedera hbar price correlation with Bitcoin to gauge next steps.

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