HBAR Defies Death Cross, Rallies 20% in Two Weeks

On April 14, a death cross appeared on the daily chart of HBAR, indicating a potential downside. However, the token defied bearish expectations, rallying 20% over the past two weeks amid a broader market rebound.

A death cross occurs when an asset’s short-term moving average crosses below its long-term moving average. This crossover suggests that the asset’s recent price momentum is weakening, and a longer-term downtrend may take shape. The pattern often signals increased selling pressure as traders usually interpret it as a marker of a negative shift in market sentiment.

However, this is not always the case, especially in volatile or recovering markets where price action can defy traditional technical signals. For instance, HBAR’s value rocketed 20% in the past two weeks. Although the bullish momentum has eased slightly over the last three trading sessions, the bulls remain firmly in control. Readings from HBAR’s Moving Average Convergence Divergence (MACD) indicator confirm this.

While the bars that make up this indicator have diminished over the past three days—reflecting a slowdown in bullish momentum amid broader market consolidation—the MACD line remains above the signal line, indicating that buying pressure still prevails among traders. This setup hints at the likelihood of further price gains despite the death cross.

Since April 16, HBAR has traded along an ascending trend line, a bullish pattern formed when an asset consistently posts higher lows over time. This indicates growing investor confidence and sustained upward momentum, even amid short-term pullbacks. For HBAR, this trend suggests buyers continue stepping in at increasingly higher price points, reinforcing support levels. If the trend holds, it could pave the way for further gains, especially if market sentiment remains positive.

HBAR’s price could break above the $0.19 resistance in this scenario and rally toward $0.23. Conversely, if selloffs resume, the price of the HBAR token could fall to $0.15.