Hedera Hashgraph’s native token, HBAR, has broken below a crucial support level, signaling a possible continuation of its downtrend. The token fell to $0.1750, its lowest price since December 1, 2023, and is now down over 57% from its 2024 peak.
DeFi Weakness Adds to Downward Pressure
The steep drop in HBAR comes amid broader weakness in the Hedera ecosystem. According to DeFi Llama, the total value locked (TVL) in Hedera’s DeFi protocols has plummeted to 531 million HBAR, down from 1.33 billion at its peak last year.
Key decentralized applications (dApps) on the network are reporting capital outflows:
- Stader, the leading liquid staking platform on Hedera, saw an 11% drop in assets over the past 30 days.
- Bonzo Finance, HeliSwap, and HbarSuite also reported declines in total value locked.
Adding to investor concerns, Hedera’s application revenue continues to shrink. In March 2025, network revenue totaled just $9,700, a dramatic drop from $124,000 in December.
Technical Breakdown Signals More Pain Ahead
From a technical standpoint, HBAR’s outlook remains bearish:
- The token has broken below $0.1817, a level that previously acted as strong support multiple times this year.
- A death cross has formed on the chart, with the 50-day moving average crossing below the 200-day, typically a sign of sustained downward momentum.
- HBAR is also trading below the 61.8% Fibonacci retracement level, increasing the risk of a further decline toward the 78.6% retracement level at $0.1200 — a potential 31% drop from current prices.
Could an ETF Spark a Turnaround?
The only visible bullish catalyst on the horizon is the potential approval of a U.S.-based HBAR ETF by the Securities and Exchange Commission (SEC). While such a development could attract institutional interest, no timeline or formal filing has been confirmed.
Outlook
For now, sentiment around HBAR remains bleak. With weakening DeFi metrics, falling application revenue, and deteriorating technical signals, bears appear firmly in control. If the price fails to reclaim the $0.1817 level soon, a deeper pullback toward $0.12 looks increasingly likely.
