Hedera's $0.21 Climb: Bearish Momentum Persists Despite Short-Term Rebound

Hedera (HBAR) has seen a recent climb above $0.21, but it continues to grapple with a 40% correction over the past 30 days. Despite this short-term rebound, technical indicators suggest that bearish momentum remains in control.

The Average Directional Index (ADX) for Hedera is currently at 23.2, down from 27.4 yesterday, indicating that the trend strength has been increasing but is now losing some momentum. While the price has climbed above the purple Tenkan-sen (conversion line), it remains insufficient to confirm a trend shift, as the Ichimoku Cloud setup remains in a bearish configuration with the price trading below the red cloud.

The EMA lines suggest a bearish setup, with short-term moving averages positioned below long-term ones. This reinforces the ongoing downtrend, making it difficult for HBAR to establish a meaningful recovery unless momentum shifts. The price currently sits near a key support level of $0.17. If this level is tested and lost, HBAR could face a deeper decline toward $0.12, marking a potential 42% correction from current levels.

However, if the price of Hedera can reverse the trend and short-term EMAs start crossing above long-term ones, it could regain bullish momentum. In this case, the first major resistance to watch is $0.25. If that level is broken, HBAR could continue climbing toward $0.35. A sustained uptrend could even push HBAR back to $0.40, which was last seen in mid-January, representing a 90% upside from current prices.