Hedera cancels testnet upgrade: Can HBAR avoid further losses?

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Hedera drops 7.27% today to $0.0672

Highlights

Hedera cancelled its testnet upgrade to v0.79 with no new date, delaying anticipated platform enhancements and restricting near-term adoption.
The full Hedera codebase was transferred to the Linux Foundation as Project Hiero, shifting governance to an open-source model and introducing transition uncertainties.
HBAR trades down 7.27% at $0.0672, firmly below key moving averages, with technical indicators confirming dominant selling pressure and a projected range of $0.0643 to $0.0689 in the next several days.

Adoption risks rise as testnet delay and governance shift unsettle sentiment

Hedera cancelled its scheduled testnet upgrade to v0.79 on November 4, 2026, without providing a new date, a move that delays expected improvements and may signal uncertainty among network participants, according to Tokenpost. The mainnet has correspondingly remained on version 0.78.2, offering no immediate feature advancements and capping near-term adoption prospects. Separately, Hedera transferred its entire codebase to the Linux Foundation as Project Hiero, formalizing open-source governance while introducing transition variables; a new partnership with Xenitravel to develop a blockchain-based travel booking platform was also reported by Coinfomania.

Momentum remains bearish as major averages and indicators signal exhaustion

On the technical front, HBAR/USD is trading below both the MA-20 and MA-50 on the hourly chart, and remains well under the long-term MA-200. Immediate resistance is identified at the Ichimoku Kijun level of $0.0702. Momentum readings are bearish, with MACD and ADX both indicating a sell bias. RSI, Stoch RSI, and CCI each register in their oversold zones, pointing toward short-term selling exhaustion even as downside momentum persists. Bearish dominance in intraday flows is highlighted by a negative Bull/Bear Power reading, while the Awesome Oscillator confirms alignment with the prevailing downtrend.

Further declines expected as breakout hinges on key resistance level

Looking ahead to the next 2–3 trading days, HBAR is likely to fluctuate within a typical volatility band between $0.0643 and $0.0689. The probability of a move higher is rated very low, while the chance of further declines remains high. The baseline scenario envisions stabilization within this corridor; a bullish shift would require a confirmed breakout and hold above resistance at $0.0702, whereas more pronounced losses may occur if support at $0.0643 is breached.

Anton Kharitonov, expert at Traders Union, notes that HBAR is showing clear technical weakness, with price trading below all key moving averages and momentum remaining bearish. He views the recent testnet upgrade cancellation and lack of new mainnet features as likely to prolong negative sentiment, while the codebase transfer and new partnership offer limited short-term support. Kharitonov expects stabilization within the $0.0643–$0.0689 range, with a high risk of further declines if support is lost. "Base case remains rangebound and defensive — no bullish signal until HBAR reclaims $0.0702 with conviction."

Earlier, analysts noted that Hedera was experiencing persistent bearish momentum with downside risks dominating near-term market direction. The current analysis adds that ongoing technical weakness and the delay of anticipated network upgrades reinforce this bias, with the $0.0643 support level emerging as a critical threshold to monitor for further losses.

Source of Data: HBAR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.