Hedera (HBAR) has experienced a 4% uptick in the last 24 hours, yet it remains entrenched in a short-term downtrend, trading below the critical resistance level of $0.160.
Technical indicators reveal mixed signals: while the BBTrend has plunged to -12.41, indicating growing bearish momentum, the RSI has rebounded sharply to 50.39, suggesting renewed buying interest.
According to COINOTAG analysis, the current price action places HBAR at a pivotal juncture, where overcoming resistance or succumbing to support levels will dictate its near-term trajectory.
Hedera (HBAR) shows mixed signals with a 4% rise amid bearish BBTrend and recovering RSI, facing key resistance at $0.160 that will determine its next move.
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Hedera Slides as BBTrend Turns Deeply Negative
Hedera’s momentum is weakening as the BBTrend indicator has sharply dropped to -12.41 from -0.83 just two days prior, signaling a significant increase in bearish pressure. Earlier today, the BBTrend reached a low of -13.43 before a slight recovery, underscoring intensifying downward momentum.
This rapid decline in BBTrend suggests that sellers are gaining control, pushing HBAR into a deeper downtrend phase. The indicator, which measures price movement strength and volatility through Bollinger Bands, confirms that the current trend is strongly bearish.
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BBTrend’s negative reading implies that unless buying pressure increases, HBAR may continue to face downward pressure or consolidate near lower support levels, potentially delaying any sustained recovery.
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HBAR Momentum Recovers as RSI Rebounds from Oversold Zone
Contrasting the bearish BBTrend, Hedera’s Relative Strength Index (RSI) has surged to 50.39 from a deeply oversold 26.6 just two days ago. This rebound indicates a resurgence of buying interest and a potential halt to the recent sell-off.
The RSI, a momentum oscillator ranging from 0 to 100, typically flags oversold conditions below 30 and overbought conditions above 70. HBAR’s current neutral RSI level suggests a balance between buyers and sellers, positioning the token at a critical pivot point.
This neutral RSI zone could lead to a bullish breakout if upward momentum persists or renewed selling if resistance proves too strong, making the next price movements crucial for market sentiment.
Hedera Faces Make-or-Break Moment Between $0.160 and $0.155
HBAR remains under bearish pressure as short-term Exponential Moving Averages (EMAs) continue to trade below their long-term counterparts, reinforcing the downward trend. However, price action is approaching a key resistance level at $0.160, a critical threshold for potential trend reversal.
A decisive breakout above $0.160 could pave the way for gains toward $0.175, with further upside targets at $0.183 and $0.193 if bullish momentum strengthens. Conversely, failure to breach this resistance may result in a retest of support at $0.155.
A breakdown below $0.155 would likely accelerate the bearish trend, pushing HBAR toward $0.150 and reinforcing the current negative technical structure. Traders should monitor these levels closely for actionable signals.
Conclusion
Hedera (HBAR) is at a critical crossroads as bearish momentum intensifies, yet signs of renewed buying pressure emerge. The interplay between the deeply negative BBTrend and recovering RSI highlights a market in flux. The $0.160 resistance zone will be decisive in shaping HBAR’s near-term direction, with a breakout potentially reversing the downtrend and a rejection possibly deepening losses. Investors and traders should watch these technical indicators and price levels carefully to navigate the evolving landscape.
Source: https://en.coinotag.com/hedera-hbar-shows-mixed-signals-as-it-approaches-key-resistance-amid-bearish-momentum/