Hedera (HBAR), the native cryptocurrency of the Hedera Hashgraph network, has surprised the market by defying bearish expectations following a death cross pattern on its daily chart. Despite the warning signs that typically indicate a potential decline, HBAR surged by an impressive 20% over the past two weeks, showcasing remarkable resilience in the face of broader market consolidation. As the cryptocurrency market begins to recover from a period of stagnation, Hedera’s recent rally has raised questions about its potential for further upside.

What is a Death Cross?

To understand the significance of Hedera’s recent price movements, it’s essential to grasp what a death cross is and why it often signals bearish market sentiment. A death cross occurs when an asset’s short-term moving average, typically the 50-day moving average, crosses below its long-term moving average, usually the 200-day moving average. This crossover suggests that the price momentum has weakened, and a longer-term downtrend might be forming.

In most cases, the death cross leads to a spike in selling pressure, as traders interpret it as an indication that the asset could be entering a prolonged period of price declines. Historically, this pattern has been a reliable signal of upcoming weakness in the market. However, as HBAR’s recent performance shows, a death cross is not always a surefire predictor of impending losses, especially in volatile or recovering markets.

HBAR Defies Expectations with a 20% Surge

Despite the ominous death cross that appeared on HBAR’s daily chart on April 14, 2025, the cryptocurrency defied expectations by rallying 20% in the two weeks that followed. This unexpected surge highlights the unpredictable nature of cryptocurrency markets, where price action can sometimes break away from conventional technical indicators.

The rally was driven by a broader rebound in the cryptocurrency market, with many assets experiencing upward momentum as investor confidence gradually returned. HBAR’s price action indicates that the token is gaining attention from traders and investors, potentially signaling the beginning of a fresh bullish phase for the asset.

While the recent bullish momentum has slowed in the past few days, HBAR’s price has managed to hold its ground, with the token still trading higher than its recent lows. The market sentiment remains positive, and the cryptocurrency has continued to outperform many other assets in the space, solidifying its position as one of the more resilient projects in the market.

Technical Indicators Signal Sustained Bullish Pressure

The Moving Average Convergence Divergence (MACD) indicator, a popular tool for identifying bullish and bearish trends, confirms that the buying pressure in HBAR remains strong despite the recent slowdown. The MACD line, which tracks the difference between the 12-day and 26-day exponential moving averages, remains above the signal line. This setup suggests that bullish momentum is still intact, and HBAR may continue its upward trajectory if demand increases further.

Although the MACD bars have diminished slightly in recent days, reflecting a temporary cooling of bullish sentiment, the overall trend remains positive. As long as the MACD line stays above the signal line, there is a strong possibility that HBAR will maintain its bullish momentum and potentially break above key resistance levels.

HBAR’s Ascending Trendline and Potential for Further Gains

Since April 16, HBAR has been trading along an ascending trendline, a bullish technical pattern characterized by a series of higher lows. This trend suggests that investors are increasingly confident in HBAR’s price stability and are willing to step in at higher price points. The presence of an ascending trendline indicates sustained upward momentum, which could pave the way for further gains if the broader market sentiment continues to improve.

The immediate resistance level for HBAR is located at $0.19, a price point that has capped the token’s recent upward movement. If HBAR successfully breaks above this resistance, it could target the next key resistance zone around $0.23. A breakout above these levels would signal further strength in the market and could propel HBAR to new highs in the coming weeks.

On the flip side, if selling pressure resumes and the broader market faces another downturn, HBAR could face a retracement back to $0.15, which represents a key support level. If this support level holds, HBAR may be able to consolidate and prepare for another leg up, maintaining its bullish outlook.

Conclusion

Despite the bearish signal from the death cross pattern on April 14, 2025, Hedera (HBAR) has managed to defy expectations by posting a solid 20% surge in price. The presence of a bullish MACD and the sustained upward trend since April 16 suggest that HBAR has the potential to continue its ascent if demand remains strong. While short-term pullbacks are possible, the overall sentiment for HBAR remains positive, and the token could soon challenge key resistance levels. Traders and investors will be closely monitoring HBAR’s performance in the coming days to see if the bullish momentum continues, and if further price gains are on the horizon.