HBAR Faces 7.7% Death Cross Threat, Price Drops 3.5%

HBAR, a prominent altcoin, has been experiencing a downward trajectory, struggling to maintain its value. This decline has left investors facing losses, and recent developments suggest that further bearish pressure is likely. The altcoin is currently trading at $0.171, struggling to break above the $0.177 resistance level. The recent price action has pushed the Relative Strength Index (RSI) deeper into the bearish zone, indicating sustained downward momentum.

One of the key technical indicators to watch is the Exponential Moving Averages (EMAs), which are close to forming a Death Cross. This bearish signal occurs when the 50-day EMA crosses below the 200-day EMA, and in the case of HBAR, the latter stands only 7.7% away from taking over the former. This pattern suggests that the altcoin is facing increasing selling pressure, and traders and investors are growing more cautious as a result.

The broader market conditions are also adding to HBAR’s struggles. The RSI has been stuck in the bearish zone since early March, and recent price action has pushed it even deeper. This suggests that the downward momentum has been sustained for weeks and is worsening as the market sentiment weakens. As a result, HBAR’s price is unlikely to see significant relief without a significant shift in market conditions.

If the bearish trend persists, HBAR could see a drop to $0.154, and losing this support would likely send the altcoin tumbling further. The next support level to watch would be $0.133, which could act as the last line of defense before a deeper decline. With weak investor support and overall market sentiment, this drop remains a strong possibility.

However, if HBAR manages to reclaim the $0.177 support level and breaks through the $0.197 resistance, it could trigger a shift in sentiment. A successful breach could lead to a move above $0.200, invalidating the bearish outlook and potentially setting the stage for a more significant recovery.