Altcoins News
By MikeT
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Technical Indicators Signal a Potential Trend Change. One of the most telling signs of a possible reversal comes from the Relative Strength Index (RSI).
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Resistance at $0.19: The Key Level. Despite encouraging technical signals, HBAR faces a major hurdle.
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Large Wallet Activity Supports the Upside. Data from TradingView shows that major HBAR holders continue to accumulate, reflecting confidence…
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Short-Term Outlook and Strategy. HBAR’s immediate support zone lies near $0.16, which has held through recent declines.
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Looking Ahead. While HBAR’s price action over the past month has been disappointing, technical indicators suggest…
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Hedera (HBAR) has experienced a sharp decline over the past month, losing nearly 24% of its value and holding near $0.17.
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Over the past week, HBAR has fallen approximately 5%, reflecting the continued uncertainty in the broader crypto market.
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“This pattern indicates that selling pressure may be weakening, and a trend reversal could be forming,” said market analyst Ananda Banerjee.
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Supporting the RSI signals is the Chaikin Money Flow (CMF) indicator, which measures money inflows and outflows from large holders. Currently, the CMF remains positive at 0.
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Despite encouraging technical signals, HBAR faces a major hurdle. The price has repeatedly failed to move above $0.
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Breaking above $0.19 would indicate that buyers are absorbing sell pressure and could pave the way for further gains. If successful, the next resistance zones are expected near $0.
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Data from TradingView shows that major HBAR holders continue to accumulate, reflecting confidence in the token’s medium- to long-term potential.
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However, the Chaikin Money Flow indicator suggests that if values drop below 0.14, money inflows may slow, reducing support for the price.
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HBAR’s immediate support zone lies near $0.16, which has held through recent declines. The near-term trajectory will depend on whether buyers can push the price above $0.19.
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Analysts caution that, in the absence of this breakout, any bounce may remain short-lived. Traders and investors are advised to monitor both technical indicators and broader…
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