Hedera (HBAR) has faced a notable decline of 20% over the past week, extending its struggle below the $0.24 mark. This downward movement is being driven by continued selling pressure in the market, and the token has failed to reclaim the critical $0.24 level for nearly a week. With bearish indicators confirming a negative sentiment, HBAR’s outlook appears uncertain unless it manages to break through crucial resistance levels and generate renewed buying interest.

Technical Indicators Show Persistent Bearish Momentum

Several technical indicators suggest that the bearish momentum behind HBAR is far from over. The Exponential Moving Average (EMA) lines show that short-term averages remain below long-term ones, indicating that the market is still dominated by downward pressure. This pattern suggests a continuation of the recent losses unless a significant shift in sentiment occurs.

The Ichimoku Cloud further confirms the downtrend, with the price consistently trading beneath the cloud. The cloud’s red coloring and the positioning of the Tenkan-sen (blue line) and Kijun-sen (red line) above the price only strengthen the bearish outlook. Until HBAR breaks above these key resistance points, the market is likely to remain under the influence of selling pressure, preventing a recovery.

BBTrend Indicator Suggests Fading Selling Pressure

Despite the bearish trend, there are emerging signs of exhaustion in the selling pressure. The BBTrend indicator, which tracks market momentum relative to Bollinger Bands, currently sits at -15.92, indicating continued negative market sentiment. However, this is an improvement from earlier in the week when the indicator reached a much deeper negative value of -22.99.

This subtle recovery suggests that the intensity of the selling pressure may be easing. While the market remains weak overall, the upward shift in BBTrend could point to a potential pause in the downtrend, or at least a relief rally if buying interest picks up. Traders and investors will need to closely monitor these developments, as a sustained recovery in BBTrend might indicate a change in market sentiment.

Support and Resistance Levels: Key Areas to Watch

For HBAR to show any sign of recovery, it must first break through crucial resistance levels. The immediate hurdle is the $0.20 price zone, which has proven to be a strong level of resistance in recent days. If HBAR manages to push past this barrier, it could gain momentum toward higher levels around $0.227, $0.258, and potentially even $0.288. A successful move above these levels would signal a shift toward a more bullish outlook.

On the downside, the price of HBAR is at risk of further decline if it fails to hold above the key support at $0.179. Should HBAR drop below this level, it could potentially test even lower support levels, with $0.17 becoming a critical floor. A fall beneath $0.17 would extend the downtrend further, putting pressure on HBAR to recover.

Conclusion: Can HBAR Avoid Further Losses?

Hedera (HBAR) continues to face a tough market environment, struggling with sustained selling pressure and technical indicators that point to a bearish continuation. The lack of momentum above key resistance levels is a major concern for the token’s short-term prospects. However, the improvement in the BBTrend indicator suggests that the selling pressure may be starting to subside, offering a glimmer of hope for a potential reversal if buying momentum returns.

In the coming days, HBAR will need to break through resistance levels and find support to avoid further declines. If it can reclaim the $0.20 level and build upon it, a reversal might be in store. Until then, further consolidation or additional losses remain the most likely outcomes.