The HBAR chart indicates price rejection at a resistance line around 15.2 cents. The analysis anticipates a further decrease towards the 11.8 to 10.4 cents region. The speaker mentions that there has been no upside reversal confirmation, highlighting the importance of structure for confirmation. He points out that after a 20-25% move to the upside on November 21st, many became bullish, the current analysis suggests a bearish outlook. Previous updates have noted only three waves up, indicating an unconfirmed meaningful low.