**Title: HBAR Breaks Down After Massive Rally, Holding Support at $0.0780**
**Introduction**
HBAR, the native cryptocurrency of the Hedera Hashgraph network, is experiencing a significant decline following a substantial rally that pushed its price to $0.887. Currently, it is managing to hold support at $0.0780, but analysts are cautious about a potential retrace. This article will delve into the recent price movement of HBAR and examine the key support levels to watch for in the event of a deeper pullback.
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**Heading 1: HBAR’s Massive Rally and Subsequent Decline**
In recent days, HBAR witnessed an impressive surge, reaching a peak of $0.887. This rally attracted the attention of many investors, especially those in the cryptocurrency space. However, this surge was short-lived as HBAR has since experienced a significant decline, causing concerns among traders and investors.
**Heading 2: Current Support at $0.0780**
Despite the downward movement, HBAR is currently finding support at $0.0780. This level is critical for the cryptocurrency’s short-term stability. Traders and investors are closely monitoring whether HBAR can hold this support level or if further downward pressure will cause it to break.
**Heading 3: Potential Retrace and Key Support Levels**
If HBAR fails to hold the current support level of $0.0780, analysts predict a possible retrace. In such a scenario, the next crucial support to watch for is at $0.078. Should HBAR break below this level, a deeper pullback is expected, with the next support level lying at $0.065.
**Heading 4: Impact of Bitcoin and Other Cryptocurrencies**
The recent price movement of HBAR is not isolated, as the broader cryptocurrency market is also experiencing volatility. Bitcoin (BTC), the leading cryptocurrency, often sets the tone for the entire market. Therefore, HBAR’s decline could be influenced by Bitcoin’s performance.
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Additionally, the mention of other cryptocurrencies in the tweet, such as $MONG, $SHIB, $TRIAS, Litecoin, Solana, and #SAFEMOON, indicates the interconnectedness of the crypto market. The movement of these cryptocurrencies may also impact HBAR’s price in the coming days.
**Conclusion**
HBAR’s recent rally to $0.887 has turned into a decline, with the cryptocurrency currently holding support at $0.0780. Traders and investors are closely watching whether HBAR can withstand further downward pressure or if a retrace will occur. Key support levels to monitor include $0.078 and $0.065. As HBAR’s price movement is influenced by the broader cryptocurrency market, particularly Bitcoin, market participants should stay vigilant and monitor the developments in the coming days..
#HBAR is breaking down after a massive rally to $0.887. It’s slightly holding support at $0.0780. In case of a retrace watch for support at $0.078, if we lose that watch for a deeper pullback back to support at $0.065.#bitcoin #BTC $MONG $SHIB $TRIAS Litecoin Solana #SAFEMOON… pic.twitter.com/WtOSYE7iCD
— teshkid is Crypto (@MtukufuMtukutu) December 17, 2023
Source
@MtukufuMtukutu said #HBAR is breaking down after a massive rally to $0.887. It's slightly holding support at $0.0780. In case of a retrace watch for support at $0.078, if we lose that watch for a deeper pullback back to support at $0.065. #bitcoin #BTC $MONG $SHIB $TRIAS Litecoin Solana #SAFEMOON… twitter.com/i/web/status/1…
