When HBAR Takes a Dive: The Cryptocurrency Comedy Show 🎭

In the grand theater of cryptocurrency, the Hedera Hashgraph token has taken a dramatic plunge, forming a death cross pattern that could make even the most stoic investor weep. 🎭

Once soaring high, the Hedera Hashgraph (HBAR) has now plummeted to a dismal low of $0.1450, its nadir since the fateful day of April 9. This is a staggering 35% drop from its May peak, leaving many to wonder if it’s time to invest in a life raft. 🚤

But fear not, dear reader! Amidst this chaos, a beacon of hope has emerged. AUDC, an Australian company, has launched AUDD, the first Australian dollar stablecoin on the Hedera network. It’s like finding a diamond in a coal mine, or perhaps just a shiny rock in a pile of rubble. 💎

AUDD promises instant settlement and ultra-low transaction costs of around $0.001. It’s so cheap, you might think they’re giving it away! This could pave the way for more stablecoin launches on Hedera’s blockchain, or at least provide some comic relief in these turbulent times. 😂

We’re excited to announce that AUDD, the Australian Digital Dollar stablecoin, has officially launched on the @Hedera network 🇦🇺
Through this integration, we look forward to driving digital payments throughout APAC and beyond 🧵
— Hedera Foundation (@HederaFndn) June 18, 2025

However, the plot thickens! The risk lies in the sharp decline of stablecoin supply on Hedera. According to DeFi Llama’s data, Hedera now holds a mere $40 million worth of stablecoins, down a staggering 82% from last month’s peak of $216 million. Talk about a fall from grace! 📉

In the race of stablecoins, Hedera is lagging behind newer chains. For instance, Sonic, which relaunched in January, boasts over $380 million in stablecoins. Meanwhile, Unichain is flexing with over $383 million. It’s like watching a tortoise trying to outrun a hare! 🐢💨

Additional data from Coinglass reveals that Hedera’s futures open interest has dwindled to $217 million, down from a year-to-date high of $308 million. It seems the bears are having a field day! 🐻

HBAR price technical analysis

The daily chart tells a tale of despair, revealing that HBAR has been on a sustained downtrend in recent months. A death cross pattern formed on May 30, as the 50-day and 200-day Exponential Moving Averages crossed, signaling doom and gloom. ☠️

Hedera token has also plunged below the upper side of the descending channel. The Relative Strength Index and the MACD indicators are in free fall, suggesting that the bearish trend is gaining momentum. It’s like watching a slow-motion train wreck! 🚂💥

As a result, Hedera is likely to continue its downward spiral, with sellers eyeing the lower side of the channel at $0.1200. A move above the resistance level at $0.1855 would be the equivalent of a miracle, but who doesn’t love a good plot twist? 🎢

2025-06-19 21:45

HBAR price technical analysis

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