HBAR has recently formed a clear double bottom pattern within the $0.10-$0.11 range. From a technical perspective, the bearish selling pressure has weakened, which can be considered a potential sign of a structural reversal.

Simply put, it’s like the bears no longer have much strength to push the price down here. The two attempts to test the bottom did not break below, indicating that the support at the bottom is not weak. Once trading volume supports a breakout above the $0.11 resistance level, there could be a subsequent rebound.

However, it’s important to note that the Layer 2 sector is becoming increasingly competitive. Various Layer 2 solutions within the Ethereum ecosystem, as well as new public chains like Sui, are vying for market share. For HBAR to stand out, relying solely on technical strength is not enough — ecological development and application deployment are also crucial. Otherwise, purely technical breakthroughs may not go very far.

The current trading advice is not to rush into heavy positions. First, observe with small positions whether this double bottom can effectively break through, focusing on the $0.11 level. Setting a proper stop-loss is very important because if the technical support fails and the price drops below $0.10, there could be room for further decline. Honestly, the importance of stop-loss levels is often overlooked, but in uncertain market conditions, managing risk is more practical than chasing profit targets.

Stay observant and wait for clearer signals before adding to positions.