Hedera HBAR Faces Resistance in 2023 Cycle

Hedera (HBAR) is currently mirroring its 2021 market structure, with some notable differences in its price behavior. The asset is now caught between two key resistance and support zones, with the price currently ranging within this channel. In the 2021 cycle, HBAR built a strong base at the lower support and successfully broke through resistance on the first attempt. This time around, the setup has diverged slightly. HBAR briefly dipped below the lower support, then faced rejection at the resistance during its initial breakout attempt.

Rekt Capital suggests that HBAR may require more time consolidating within this range before a breakout can materialize. The macro pattern remains intact, but the momentum appears more hesitant compared to the previous cycle. For a bullish confirmation, HBAR must secure a weekly close or clean retest above the top resistance. Until that happens, the asset will likely revisit the red Range Low.

Rekt Capital outlines two outcomes that could reinforce a bullish case. The first is that HBAR holds the Range Low as support, keeping consolidation healthy. The second scenario is that if the price dips below the support box again, it must form a higher low to avoid breakdown risk. In short, HBAR is in a familiar setup—but patience is key. Bulls need to defend the lower boundary or risk further downside before any upside can resume.