Hedera Hashgraph's native token HBAR has been trading in a tight range since the start of February, reflecting the overall market consolidation in recent weeks.

As HBAR remains range-bound, both spot and futures traders have reduced their exposure, potentially putting the altcoin at risk of a downward breakout.

HBAR has been trapped within a narrow price range, with resistance at $0.24 and support at $0.22. The lack of a clear breakout in either direction suggests market indecision, with bearish pressure mounting, signaling a possible break below the $0.22 support level.

The declining open interest in HBAR futures and the persistent outflows from its spot markets indicate reduced market participation and growing selling pressure. Spot outflows have outweighed inflows since February, with traders withdrawing more HBAR from exchanges than depositing, hinting at a potential price decline.

Looking at a daily chart, HBAR faces significant resistance at $0.30 as per the Super Trend indicator. A break below $0.22 could lead to a further decline towards $0.16, while a move above $0.24 may push the price towards $0.30 if new demand enters the market.

The current outlook for HBAR suggests a pivotal moment ahead, with the possibility of either a breakout or breakdown in its price trajectory.