HBAR Price Analysis: Bears Push Hedera Towards Crucial $0.15 Support Level
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Hedera (HBAR) Faces Significant Downturn
Hedera (HBAR) is currently experiencing notable downward pressure, having decreased by approximately 13.5% over the last week. Its market capitalization remains around $7 billion. Recent technical indicators suggest a growing bearish trend, with both trend and momentum metrics showing significant negativity. The asset’s price is currently hovering near a vital support level, heightening concerns of a potential drop below $0.15 for the first time in several months. If buyers do not regain control soon, HBAR may endure further declines before any substantial recovery can take place.
HBAR BBTrend Indicator Shows Severe Decline
The BBTrend indicator for Hedera has plummeted to -10.1, a sharp decline from 2.59 just a day prior. This rapid shift indicates a significant change in momentum, illustrating that HBAR is facing intense downward pressure. Such a pronounced drop typically signifies a swift rise in selling activity, which can alter the asset’s near-term outlook dramatically. The BBTrend, which assesses trend strength and direction based on the price’s position relative to the Bollinger Bands, typically displays positive values in bullish conditions and negative values in bearish ones. With HBAR’s BBTrend now at -10.1, it suggests a strong bearish trend. This indicates that the price is declining with increasing force, posing a risk of further losses unless buyers intervene to slow the momentum.
The Ichimoku Cloud chart for Hedera presents a distinctly bearish structure, as the price remains significantly below both the blue conversion line (Tenkan-sen) and the red baseline (Kijun-sen). This arrangement shows that short-term momentum is in line with the longer-term downtrend. The price has repeatedly struggled to surpass these dynamic resistance levels, indicating that sellers remain in control. Additionally, the future cloud appears red and is trending downward, implying that bearish forces are likely to persist in the near future. The widening gap between the Senkou Span A and B lines further emphasizes the strength of the downtrend. For any reversal to gain traction, HBAR would need to first break above the Tenkan-sen and Kijun-sen, and ideally, move into or above the cloud. Until those conditions are met, the existing Ichimoku setup supports a continued bearish outlook.
Will Hedera Drop Below $0.15 Soon?
Currently, Hedera’s price is lingering around the $0.16 mark, nearing a crucial support level at $0.156. Should this support fail to hold, it could lead to additional declines, potentially pushing HBAR below the $0.15 threshold for the first time since November 2024. Conversely, if HBAR can reverse its current trend and regain bullish momentum, the first resistance level to monitor would be at $0.179. A breakout beyond this point could trigger a more robust rally towards $0.20, and if positive momentum persists, HBAR might even reach $0.215. In an optimistic scenario, HBAR could ascend to $0.25, indicating a full recovery and a reversal of the current trend.
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