The bloodbath continues as Hedera plunges 5% in the last day, compounding a brutal price drop of over 25% in the past four weeks. The technicals now started flashing crimson, making people fear a further drop.
The HBAR rally has lost steam. The BBTrend whispers weakness, with the RSI screaming with build-up of sell pressure. HBAR now clings to the $0.153 mark: will it hold here to kick-start a comeback, or will it give way, allowing HBAR to plunge even deeper into uncharted waters?
HBAR Struggles to Regain Momentum
Hedera’s BBTrend is now at -1.2, recovering from -3.27 earlier today but still below the 2.63 seen two days ago.
The brief rally in HBAR has – seems to have just – given the bulls some winds. Breakout dreams have now been transformed into sideways shuffle stories. Would this be a breather on the way up, or is the rally altogether out of treatment?
The quick bounce from deeper negative levels suggests some buyer support, but the overall trend remains weak.
HBAR BBTrend. Source: TradingView.
BBTrend, or Bollinger Band Trend, measures the directional strength and volatility of price movements relative to the Bollinger Bands.
The bearish picture is painted when the HBAR BBTrend dips to -1.2. That said, the bears have it, but the grip seems to be loosening. Think of it as a tug-of-war: the downward pull is still there, but the other side is starting to gain traction. A reading this close to the -1 makes one speculate whether the bearish wave is losing its punch, with a shift in the momentum soon to be witnessed. Could it be the calm before the bullish storm? Time will tell.
“A BBTrend wavering at neutral or, better, in green with some shift might be an early signal for a market comeback reflecting the active influence of the buyers.”
HBAR RSI Plunges Below 30: Oversold Signal Points to Possible Rebound
The markets are hemorrhaging. Just 48 hours ago, the Relative Strength Index (RSI) stood strong at 61.99, a picture of health. Now? It’s plunged to a disconcerting 22.29, with sudden showers of sell-offs crashing on the market.
HBAR’s rapid fall pushes the coin deep into the oversold zone, turning top heavy with warning signs for a sudden rebound. An exodus panic sell-out? Or maybe setting for a before-the-storm-liquidity rally? Once buyers appear in large numbers, though, the powerful rally will be triggered.
HBAR RSI. Source: TradingView.
Is a stock about to explode or dive? Think of the Relative Strength Index as your crystal ball that takes price momentum and churns out a simple number from 0 to 100. Basically, above 70 the market is screaming “Overbought!” a good chance for a pullback. Below 30? The market is whispering, “Oversold!” time to bounce back. Decode the RSI to discover hidden opportunities in the market.
The RSI has now turned red, which is when it reaches deep oversold territory, depicted by these levels at 22.29. Could this be the bottom? Good support levels need to hold if the bulls are to fashion spectacular comebacks. Keep watching carefully.
Hedera Faces Breakdown Risk at $0.153
Hedera’s price is dancing on a knife-edge, hanging precariously on that $0.153 lifeline so generously provided by the inventor/creator of dollar suicide. Will history be repeated, or will the bears finally break through?
However, if this support is tested and fails, Hedera could decline toward the next major support around $0.124.
The outlook for HBAR appears having become ominous. An outshining occurrence of the dreaded ‘death cross’ on the EMA lines is heralding an impending landslide of losses ahead at which time traders can do nothing but brace.
HBAR Price Analysis. Source: TradingView.
Yet, the tide could change speedily. Should the bulls take the rein and shatter the $0.168 ceiling, get set for the surge. $0.175 will be the next target, but if the momentum explodes, $0.183 will not be far behind.
These resistance zones have historically acted as inflection points and would need strong volume to be broken decisively.
The fate of HBAR continues to be tilted precariously around the $0.153 mark. Will the bear pressure its price down, or will it regain some strength and bounce back? These next few trading sessions shall be a testament to its strength.
Thanks for reading Hedera (HBAR) Price Could Drop 19% If These Key Supports Break
