Hedera (HBAR) Drops 9% in 24 Hours Amid Bearish Indicators

Hedera (HBAR) has experienced a significant downturn, dropping 9% in 24 hours and 25% over the past month, signaling a critical phase for the cryptocurrency. Technical indicators such as BBTrend and RSI reveal weakening momentum and oversold conditions, suggesting a potential for either a rebound or further decline. According to COINOTAG analysis, maintaining the $0.153 support level is crucial for HBAR to avoid a deeper breakdown toward $0.124, with resistance levels at $0.168, $0.175, and $0.183 posing key hurdles ahead.

Hedera’s recent price action highlights a struggle to sustain bullish momentum as the BBTrend indicator currently stands at -1.2, a recovery from earlier lows but still indicative of bearish pressure. This suggests that the token is transitioning from a brief rally phase into a consolidation period, where market participants remain cautious. The modest bounce from deeper negative BBTrend levels points to some underlying buyer interest; however, the overall trend remains fragile. Investors should monitor this closely, as a sustained move above neutral BBTrend values could signal renewed buying strength.

The BBTrend, which measures price momentum relative to Bollinger Bands, is a valuable tool for assessing directional strength. Values below -1, as seen with HBAR, typically indicate bearish conditions, but the current reading near -1.2 suggests that selling pressure may be easing. A shift toward positive territory would be a key indicator for traders looking for signs of recovery.

The Relative Strength Index (RSI) for HBAR has plunged to 22.29 from a neutral 61.99 just days ago, marking a sharp increase in selling pressure. This deep oversold condition often precedes a corrective bounce as market participants reassess value levels. While the aggressive sell-off reflects heightened market anxiety, it also creates a potential entry point for buyers anticipating a rebound. Monitoring the RSI alongside price action near critical support levels will be essential for gauging the likelihood of a recovery.

RSI readings below 30 are generally interpreted as oversold, signaling that the asset may be undervalued in the short term. For HBAR, this presents a tactical opportunity if the $0.153 support level holds firm, potentially limiting downside risk and setting the stage for a rebound.

Hedera’s price currently hovers just above a pivotal support level at $0.153, which has historically acted as a floor during previous retracements. A failure to maintain this support could trigger a further decline toward the next significant support zone near $0.124. Compounding bearish sentiment, recent EMA lines have formed a death cross, a technical pattern often associated with sustained downward momentum.

Despite the bearish signals, a turnaround remains possible if buyers regain control and push HBAR above immediate resistance levels at $0.168. Surpassing this threshold could pave the way for tests of higher resistance points at $0.175 and $0.183, contingent on increased trading volume and market confidence. These zones have historically served as critical inflection points, requiring strong momentum to break decisively.

Hedera (HBAR) is navigating a challenging period marked by significant price declines and bearish technical indicators. The cryptocurrency’s ability to hold the $0.153 support level will be crucial in determining whether it can stabilize or face further losses toward $0.124. While oversold conditions indicated by the RSI suggest a potential rebound, traders should remain vigilant for confirmation signals. Monitoring resistance levels at $0.168, $0.175, and $0.183 will provide insight into the strength of any recovery. Overall, HBAR’s near-term trajectory hinges on market reaction around these key technical thresholds.