Hedera’s HBAR token has been in a challenging position for the past few months, as it continues to struggle against both broader market conditions and investor sentiment. The cryptocurrency, which has been attempting to regain upward momentum, remains stuck below the critical $0.20 resistance level. Despite its occasional attempts at recovery, HBAR has not been able to break free from its two-month downtrend, leaving many investors uncertain about the token’s near-term future.

One of the key indicators signaling trouble for HBAR is the Chaikin Money Flow (CMF). This technical indicator measures the amount of money flowing into or out of an asset over a set period, and it has shown a concerning trend for HBAR in 2025. The CMF has remained below zero since the beginning of the year, suggesting that the token has been experiencing more selling pressure than buying interest. Over the past two months, HBAR’s inflows have been outweighed by outflows, which reflects weak investor confidence. Without strong buying activity, it’s difficult for the altcoin to build any sustained bullish momentum, leaving it vulnerable to further declines.

In addition to the CMF, the Moving Average Convergence Divergence (MACD) indicator has been sending mixed signals. The MACD is a momentum indicator that measures the difference between short-term and long-term moving averages. Over the last three weeks, HBAR’s MACD has fluctuated between bullish and bearish territory, creating an unpredictable price movement. While the recent shift back into bullish territory may seem positive, the inconsistency in momentum suggests that any potential price increase is likely to be short-lived. Without a consistent upward trend, HBAR’s price could remain volatile, leaving investors with little certainty about the future direction of the token.

At the time of writing, HBAR is trading at $0.197. Although it has managed to hold this level as support, the token has been unable to sustain prices above $0.20 for the past two weeks. To begin a proper recovery, HBAR must first maintain a level above $0.197 for a prolonged period. If the price continues to struggle with the resistance at this level, HBAR could face a deeper decline. Should it lose the support at $0.197, the next key level to watch is $0.177. If this support level is breached, HBAR could fall further to $0.154, extending the downtrend and delaying any hopes of a recovery.

On the other hand, a breakout above the $0.197 resistance could bring more positive momentum to HBAR. The next resistance level would be at $0.222, a critical point that could mark the end of the current downtrend. If HBAR can break through this level, it would signal a possible shift in market sentiment, allowing the token to recover from its recent losses. However, even with a breakout above $0.197, sustaining momentum will remain a challenge, as broader market conditions and investor sentiment are likely to play a significant role in HBAR’s ability to continue rising.

The weak inflows and mixed momentum signals are a clear indication that HBAR’s price recovery is closely tied to broader market conditions. Until investor confidence picks up and the cryptocurrency market as a whole experiences more stability, HBAR may continue to face resistance in its attempts to regain upward momentum. Investors should watch for signs of consistent buying interest and a sustained upward trend in the broader market before considering HBAR as a strong investment option.