Hedera (HBAR) has been stuck in a tight trading range for the past several days, with key technical indicators showing signs of indecision. After experiencing a modest drop of over 6% in the past week, the cryptocurrency has faced a significant shift in market momentum. With its BBTrend turning negative and the Relative Strength Index (RSI) hovering below a crucial threshold, traders are now awaiting a decisive breakout, either up or down, to determine the next phase for HBAR’s price.

Hedera’s price action has been oscillating between two key levels: support at $0.1849 and resistance at $0.189. In the face of this narrow range, a breakout above or below these levels could define HBAR’s direction in the near term. However, with indicators like the BBTrend and RSI showing conflicting signals, it remains unclear which way the market will swing.

BBTrend Turns Negative: A Shift in Momentum?

The BBTrend, a momentum indicator based on Bollinger Bands, has turned negative for Hedera after 10 days of positive readings. As of now, the BBTrend stands at -3.35, a sharp contrast from the bullish momentum that was seen earlier in the month. The BBTrend measures the distance of price relative to the upper and lower Bollinger Bands, and when it is above zero, it typically indicates strong bullish pressure. However, now that it has dipped below zero, it suggests that bearish sentiment is growing, with HBAR’s price moving closer to the lower band.

This negative BBTrend reading raises concerns for traders who have been betting on continued upward momentum. The shift suggests that the price of HBAR may be entering a phase of heightened volatility, with an increased likelihood of further downside if other indicators start to align with this bearish trend.

RSI Shows Indecision Amid Price Consolidation

Alongside the BBTrend’s negative shift, HBAR’s Relative Strength Index (RSI) has also shown signs of indecision. Currently, the RSI is at 49.82, just shy of the neutral 50 level. The RSI had briefly touched 54 earlier in the session before retracing, indicating a struggle between the bulls and bears over control of the short-term price action.

The RSI is a commonly used momentum oscillator that helps traders assess whether an asset is overbought or oversold. Readings above 70 typically suggest overbought conditions, while readings below 30 signal oversold conditions. A level of 50 is considered neutral, and HBAR’s current RSI reading signals a tug-of-war between the two sides, with neither the bulls nor the bears gaining a clear advantage.

While the RSI has managed to rebound from a lower point of 42.45 earlier in the week, it remains below 50, indicating that the market is still in a state of uncertainty. If the RSI breaks above 50, it could signal growing buying pressure and the potential for an upward trend. However, if it continues to stagnate below 50, HBAR may struggle to gain any significant upward momentum.

Price Consolidation: Key Levels to Watch

As HBAR trades within its narrow range, traders are closely monitoring the key support and resistance levels. On the upside, if HBAR breaks through the resistance at $0.189, it could open the door for a move toward $0.199 and $0.202. A sustained breakout above these levels would likely signal a shift toward a bullish trend, with the potential to retest higher levels like $0.258.

On the downside, a break of the support at $0.1849 could lead to further losses, with the next major support levels at $0.175 and $0.16. A deeper downtrend could push HBAR as low as $0.124, wiping out much of its recent gains. These levels are crucial turning points, and traders will be looking for volume spikes or momentum shifts to provide a clearer direction.

What’s Next for Hedera?

At this point, Hedera is caught in a period of consolidation, with pressure building on both sides. The outcome of this consolidation will likely be defined by a breakout from the current range. If the bulls can push the price above $0.189, HBAR could see a strong rally. Conversely, if the bears manage to break the support at $0.1849, further downside could be on the horizon.

For now, traders are waiting for a definitive move that could set the stage for the next big trend in Hedera’s price action. With the market in a state of indecision, the coming days will be crucial in determining whether HBAR can overcome its current struggles and continue its bullish momentum or if it will face a period of prolonged consolidation or decline.