HBAR Struggles to Recover, Faces Key Resistance for Rebound
HBAR attempts to recover after a sharp drop, but key resistance levels must be breached for a reversal, while weak momentum keeps bearish pressure intact.
Hedera (HBAR) is attempting a rebound after a sharp drop, with key resistance and support levels determining its next move. While selling pressure appears to be fading, a true trend reversal will require stronger buying momentum.
HBAR recently experienced a significant downturn but is now showing signs of stabilization. Technical indicators suggest that bearish sentiment still dominates, though a potential breakout could change the outlook. If buyers regain control, HBAR could approach a key resistance level, while further losses remain a risk if support is breached.
The Directional Movement Index (DMI) indicates selling pressure is weakening, with the ADX showing a strengthening trend. The ADX, which measures trend intensity, remains below the threshold for a strong movement but has risen steadily, suggesting a potential shift. The +DI line, representing buying momentum, has increased slightly, while the -DI line, indicating selling pressure, has declined. However, the market remains in a downtrend unless the buying force overtakes the selling.
The Ichimoku Cloud, a widely used technical indicator, continues to reflect bearish conditions. HBAR is currently trading below the cloud, signaling resistance ahead. The cloud remains red and extends forward, suggesting continued challenges for upward movement. The Ichimoku Cloud suggests a breakout above key resistance is needed for bullish momentum to gain traction. The baseline and conversion lines are flat, indicating weak momentum, while the lagging span remains below price action, reinforcing the current bearish trend.
For a reversal to occur, HBAR must break above the resistance area and sustain momentum. A rejection at this level could lead to renewed selling, while a successful breakout would provide a strong bullish signal.
Moving averages also indicate a bearish trend, with short-term EMAs positioned below long-term ones. If the decline persists, HBAR may test an important support level. Losing this support could lead to further downside, while a strong recovery could push the price toward a notable resistance zone.
Overall, HBAR needs increased buying pressure to confirm a trend reversal, with key resistance and support levels playing a crucial role in determining the next move. The crypto market’s broader sentiment will also influence whether Hedera can regain momentum or continue its downward trajectory.
