Hedera (HBAR) is under pressure, falling more than 17% over the last 30 days, trading below $0.20 since May 23rd. While some momentum indicators show early signs of recovery, HBAR continues to face resistance at key technical levels.
That bbtrend remains in the negative territory, and despite the RSI climbing from an unsold situation, it failed to exceed 60. The potential golden cross on the EMA line can cause bullish breakouts, but this move requires a stronger follow-through to overcome nearby resistance.
Hbar’s persistent negative Bbtrend may delay bullish breakouts
As reflected in the Bbtrend indicator, Hedera has shown sustained bearish momentum over the past two weeks. Since May 26th, BBTREND has remained in negative territory, reaching its lowest level of -12.54 on June 2nd.
For now, the indicator is located at -0.195, and overall sentiment remains weak, suggesting a potential mitigation of the downtrend.
Despite briefly touching on 0.09 yesterday, the negative BBTREND trajectory indicates that bullish pressure is not yet held convincingly.
Bbtrend, short for Bollinger Band Trend, measures the direction and strength of price movement based on the position of the price for the Bollinger Band.
A positive bbtrend suggests bullish momentum, while a negative reading indicates sustained sales pressure or lateral movement within the lower part of the Bollinger band range.
Hbar’s Bbtrend is still slightly negative at -0.195, which eases the extreme bearishness seen at the beginning of June, but the assets have not moved firmly into the bullish phase.
Hbar recovers from oversold levels
Hedera has shown signs of regaining momentum, with its relative strength index (RSI) currently at 57.17, expanding sharply from 27.62 on June 5th.
Since June 6th, RSI has consistently surpassed the neutral 50 mark, suggesting that buyers will gradually gain control.
However, despite this upward shift, HBAR’s RSI has struggled to surpass the 60 threshold over the last three days, indicating that bullish momentum remains limited, indicating that it will face just as much resistance as it begins to build.
RSI is a widely used momentum oscillator, ranging from 0 to 100. Values above 70 indicate conditions below 30 points for excess markets. The measured value was around 50, suggesting a neutral posture.
As the HBAR RSI is currently testing zones 50-60, the assets are in the transition phase.
A critical break of over 60 could open the door even more upside down, but recent inability shows that the bull still lacks belief in sustainable assembly.
Will Hedera break $0.20?
Hedera Price is approaching a key moment as its exponential moving average (EMA) suggests potential golden cross-formation. This bullish signal occurs when a short-term EMA crosses over a long-term EMA.
This crossover could potentially cause upward momentum and drive the HBAR to test the resistance at $0.175.
A strong breakout beyond that level could pave the way for $0.193, and if the upward trend gains traction, HBAR will reach $0.209, recovering the 0.20 zone for the first time since May 23rd.
But bullish scenarios depend on sustained upward momentum. HBAR may retreat to test immediate support for $0.160 if the rally fails to develop.
A breakdown below that level could drag the price to $0.155 and put you at risk for deeper short-term losses.
Disclaimer
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