Hedera (HBAR) Slumps 4%, Faces Key Resistance Level
Hedera (HBAR) has dropped more than 4% in the past 24 hours and its market cap is now $8.4 billion. Despite a short-term surge earlier today, HBAR’s BBTREND remains negative, indicating a sustained bearish momentum.
However, Ichimoku cloud shows that if buying interest increases, it can be a bullish reversal. If the short-term EMA line exceeds the long-term line, HBAR can test resistance at $0.24 and has risen $0.30 for the first time since February 1.
HBAR BBTREND shows bullish trend attempt failed
HBAR’s BBTREND is currently -0.71, and has remained negative since February 18 Indicates continued bearish momentum. The indicator reached a negative peak of -6.21 on February 20, and then gradually recovered to -0.06 yesterday before falling again.
Bbtrend or Bollinger band Trend, measuring momentum and direction of price movement relative to Bollinger’s band. Negative values indicate that the price tends toward lower bands, the signal bearish, while positive values indicate bullish momentum against the upper band.
Hedera’s Bbtrend was at -0.71, down from -0.06 yesterday, which indicates Bearish momentum is recovering After a brief recovery attempt. This reversal indicates a new pressure on sales pressure that could lead to a further decline if the negative trend continues to decline.
Unable to maintain positive signal of change Weaknesses in purchasing interestincreasing the possibility of HBAR continuing to move downward. If BBTREND remains negative, HBAR may face greater sales pressure until a significant reversal occurs.
Hbar Ichimoku Cloud shows a bullish trend that may form, but has not yet been determined
Ichimoku Cloud Chart HBAR shows that prices have recently broken above the cloudthis is usually a bullish signal. However, the cloud ahead is thin and slightly looking at it, indicating a weak resistance.
The blue Tenkan-Sen series is on the red Kijun-Sen line, indicating short-term bullish momentum. However, the tight proximal ends of these lines indicate a lack of strong trend conviction.
The green Chico crossover is above the price, confirming bullish sentiment, but it is close to the candle, indicating hesitation. Breakthroughs above the cloud need to maintain a sustained upward trend. If the price is below the cloud, it could invalidate the bullish breakout.
Overall, while the chart shows short-term bullish signals, the weak cloud and narrow gap between Tenkan-Sen and Kijun-sen shows caution, because The trend has not been strongly confirmed.
If this happens, Hedera (HBAR) may return to $0.3
HBAR’s EMA line shows that bearish trends still dominatethe short-term line is located on the long-term line, and the signal continues to sell pressure.
However, Ichimoku cloud hints at the possibility of a bullish reversal.
If the short-term EMA line exceeds the long-term line, it may trigger purchase interest, resulting in $0.24 in HBAR test resistance. A break above this level could raise the price to $0.29, and if the momentum continues, HBAR could rise to $0.32, marking the first step since February 1 above $0.30.
On the contrary, if the current downward trend continues, HBAR price can be retested $0.19. A breakout below this level will indicate an increase in bearish momentum, which may lead to a drop to $0.179.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
