HBAR price to crash further amid Hedera ecosystem woes

The daily chart shows that the Hedera price has plunged in the past few months. The HBAR token has dropped from a high of Most importantly, Hedera’s governance council is made up of blue-chip companies like Google, IBM, LG, Boeing, Dell, and Nomura. However, it is unclear whether these companies are using its blockchain.

HBAR price has crashed into a bear market after falling nearly 50% from its highest point in August, and its weak fundamentals and technicals point to more downside.

HBAR price has also moved below the Ichimoku Cloud indicator. Therefore, the token will likely continue falling as sellers target the key support at Hedera does not have a significant market share in the gaming and non-fungible token industry. Most importantly, despite launching Stablecoin Studio in 2024, its total supply stands at just million. This is a small amount in an industry with over 0 billion in assets.

This crash could accelerate as its top fundamentals deteriorate. For example, despite its big name in the crypto industry and high market cap, Hedera’s role in key industries is fairly small.

While 8 million is a lot of money, it is a small figure in the DeFi industry, which has over 0 billion in assets. Hedera has been overtaken by recently launched chains like Katana, Unichain, and Base.

HBAR price technical analysis 

The Hedera (HBAR) price has been in a strong downtrend in the past few weeks, mirroring the performance of Bitcoin (BTC) and other top altcoins. 

The coin recently invalidated the double-bottom pattern by falling below the key support at For example, Hedera has struggled to attract the top blue-chip developers like Uniswap, PancakeSwap, and Aave in its decentralized finance ecosystem. As a result, its total value locked in the industry is just 8 million, down by 30% in the last 30 days.