HBAR price at key support, key metric indicates deeper dive
HBAR price continued its strong downward trend and hit a crucial support level as the crypto market retreat gained steam.
Summary
- HBAR price has formed a descending triangle pattern on the daily timeframe chart.
- The total value locked of all assets in Hedera has plunged to $61.5 million.
- The stablecoin supply dropped by 16% in the last seven days to $49 million.
Hedera (HBAR) token dropped to a crucial support level at $0.1037, erasing all gains made earlier this year. It has dropped by 65% from its highest point in July last year.
HBAR crashed even as Hedera’s team traveled to Davos, Switzerland, where it is sponsoring the US House alongside other companies…
