HBAR Bounces from Channel Bottom: Bullish Reversal Targeting $0.39?

Hedera (HBAR) continued its downward trend on Thursday, Feb. 5, 2026, with the price falling by 9%, currently trading at $0.08104, as per CoinMarketCap. The trading volume has risen by 15.17%, reaching $258.31 million, and the market capitalization fell by 7.94% during the same period and is now at $3.54 billion.

Source: CoinMarketCap

Analysts have pointed out that Hedera is testing the lower boundary of its multi-week descending channel, and this boundary has been an important support area for the asset so far. 

HBAR Tests Descending Channel Support Zone

Analyst Jonathan Carter highlighted that the price is pressing into the descending channel on the three-day chart. The pattern could potentially support the price if the buying activity remains high at the current levels.

The analyst noted that the targets for the price rebound could be at the levels of $0.11, $0.14, $0.18, $0.23, $0.30, and $0.39. If the price falls below $0.06, it will invalidate the current pattern.

Source: X

Additionally, another analyst, Crypto Coral, mentioned that there was high buying activity on the lower timeframes. He mentioned two consecutive 11.6% bullish impulse candles on the one-hour chart. He linked the move to high volume and the clean reaction from the short-term support levels.

Source: X

Derivatives Show Rising Volume and Lower OI

According to CoinGlass data, the trading volume has risen to $368.76 million, a 32.55% increase. The Open Interest has declined by 1.12% to $92.83 million. The OI-Weighted Funding Rate is at 0.0046%. This shows a balanced position but a cautious approach by traders.

Source: CoinGlass

Also Read: TRON Price Prediction 2026: Can TRX Break $0.30 and Rally to $0.40?

Technical Signals Highlight Deep Bearish Pressure

HBAR is currently below all Exponential Moving Averages (EMA) levels. The 20-day EMA is currently at $0.10012, while the 50-day EMA is at $0.11212. Both are bearish indicators, as sellers are still in control.

The long-term indicators are also bearish. The 100-day EMA is at $0.13078, while the 200-day EMA is at $0.15454. Both are still much higher than HBAR, showing a bearish pattern.

Source: TradingView

The Relative Strength Index (RSI 14) is at 26.31, while the signal line is at 35.17. Both are oversold, showing strong bearish momentum.

The Moving Average Convergence Divergence (MACD) indicator is also bearish. The MACD line is at -0.00779, while the signal line is at -0.00599. The histogram is at -0.00180.

Source: TradingView

HBAR is currently at a critical support level. The coming days will determine whether buyers can push it up or not. The momentum will determine whether a reversal occurs or a further decline takes place.

Also Read: Hedera Hashgraph (HBAR) Falls Below Key Support, Signals Potential Drop to $0.08