HBAR Price Finds Support at $0.20, But A Bounce Back is Unlikely | Airdrop Alert Pro

HBAR has been facing a sustained downward trend since mid-January, and Altcoin has failed to recover from the negative pressure in the market.

Despite the $0.20 support, broader market conditions and technical indicators suggest that a significant rebound in HBAR is unlikely in the near future.

HBAR Bull’s Nightmare Continues

ADX (Average Directed Index) has been rising steadily, currently at 44, significantly above the 25.0 threshold. This uptrend suggests that the downtrend is strengthening its strength, which suggests that HBAR is more likely to decline further. As sales momentum intensifies, investors may see long-term losses if the trend continues.

In addition, market sentiment HBAR is still weak. The ongoing downward trend reflects a lack of confidence in a strong recovery as price efforts continue to be above key support levels. The rise in ADX metrics is a worrying signal that the decline may persist, limiting any potential recovery from Altcoin.

The broader market momentum of HBAR also reflects the bearish outlook, especially when considering technical indicators RSI (Relative Strength Index). RSI hovers in the oversell area, indicating that market sentiment is mostly negative. Historically, a reversal may occur when the RSI is below 30.0. However, past data suggest that this is not always guaranteed a rebound.

The location of HBAR near the oversold area does not necessarily mean a recovery is imminent. While RSIs below 30.0 usually indicate assets oversold, historical trends suggest that this situation does not always lead to a rapid recovery. This has caused people to talk about whether it is HBAR can rebound In the short term, or whether it will decline further.

HBAR price needs strong impetus

Now, HBAR is trading $0.20, support level is $0.19 higher. Altcoin has dropped from $0.37 to its current price over the past six weeks. If the downtrend persists, the alternative token can test the lower level with the next key support of $0.17. The inability to maintain the $0.19 level may further boost HBAR.

The combination of technical indicators and persistent negative sentiment suggests that HBAR is at risk of further decline. If Altcoin loses $0.19 support, the next important level at $0.17 can be tested, expanding investors’ losses. These levels of decline will deepen the negative prospects.

However, a successful violation of $0.22 above the current downtrend may indicate a shift The power of HBAR. Getting support at $0.22 may indicate that Altcoin is starting to recover, potentially invalidating the bearish paper.