Hedera (HBAR) Price Analysis
Hedera (HBAR) has gained nearly 5% in the last 24 hours, attempting to surpass the $0.20 mark for the first time in two weeks. This price rally occurs alongside improving technical indicators that suggest a possible trend shift.
Despite this recovery, HBAR faces significant resistance levels and continues to operate within a bearish context observed in recent weeks.
BBTrend Recovery But Still in Bearish Territory
Currently, Hedera’s BBTrend stands at -1.85, which shows a recovery from -3.44 yesterday but was as high as 0.96 two days prior. This movement indicates some short-term improvement in price momentum, following prior downward pressure. However, the overall trend remains negative as Hedera struggles to maintain bullish signals.
The BBTrend (Bollinger Band Trend) indicator illustrates price action deviations from the Bollinger Bands’ center, assessing trend strength and direction. Values above 0 indicate bullish conditions, while those below 0 suggest bearish momentum. Given that Hedera’s BBTrend is at -1.85, it reflects ongoing bearish pressure despite recent rebounds. Moreover, Hedera has struggled to maintain strong positive levels over time—last crossing above 10 on March 6, signaling fleeting bullish power in recent weeks.
Ichimoku Cloud Indicators
Hedera’s Ichimoku Cloud chart shows early signs of recovery, as prices break above the blue Tenkan-sen line and test the lower section of the red Kumo (cloud). The price action entering the cloud after a prolonged decline can be interpreted as a transition to more neutral conditions, suggesting a decrease in selling pressure. However, resistance remains from the thicker part of the Kumo just above current levels.
The cloud’s red color indicates that the broader trend is still bearish despite the recent upswing. In Ikimoku Cloud analysis, prices positioned below the cloud suggest bearish conditions, while those above indicate bullish sentiment. Trading within the cloud typically signals consolidation or market indecision. For Hedera, its current positioning within the cloud means it is attempting to mitigate bearish momentum but has yet to establish a definitive bullish trend. Until HBAR breaks firmly above the top of the cloud, upside potential may be limited by resistance.
Possible Golden Cross Impact
Hedera’s EMA lines continue to show an overall bearish arrangement, with long-term EMAs trending downward. Nevertheless, short-term EMAs are beginning to trend upward and could soon intersect with longer-term averages, potentially establishing a golden cross.
If this bullish crossover happens, it may instigate a more significant upward movement, with the initial resistance level noted at $0.199. A breakthrough at this point might pave the way for further increases toward $0.215. Should bullish momentum accelerate, HBAR could aspire to $0.258 in subsequent sessions.
Conversely, if the short-term upward momentum diminishes and the golden cross does not occur, bearish pressure might reemerge. In this case, HBAR could retest key support levels at $0.184 and $0.178. A decisive break below these thresholds could retract the token beneath $0.17, reinforcing the bearish structure.
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