Hedera (HBAR) Faces 27% Volume Drop, Bullish Signals Emerge

Hedera (HBAR) is currently experiencing a period of mixed signals, with its market cap standing at $7 billion. Despite indications of growing momentum, the trading volume has decreased by 27% over the past 24 hours, now at $104.29 million. This decline in trading volume suggests a market in transition, caught between fading volatility and early signs of renewed interest.

Technical indicators such as the Relative Strength Index (RSI) and Exponential Moving Averages (EMAs) hint at a potential bullish breakout. The RSI, currently at 55.70, has risen from 45 just two days ago, indicating increasing bullish momentum. This upward trend suggests growing interest in HBAR and a potential continuation of its current upward push, provided that momentum sustains. However, the Bollinger Band Trend (BBTrend) indicator remains negative, signaling that trend strength is still fragile. The BBTrend, currently at -3.53, has been in negative territory for nearly three consecutive days, with a recent low of -5. This prolonged dip suggests that HBAR may be stuck in a period of consolidation or at risk of entering a broader downtrend if no bullish momentum emerges.

The EMA lines are showing signs of a potential golden cross forming, which could signal a shift toward a bullish trend. If this crossover happens and momentum strengthens, HBAR’s price may test the resistance at $0.178. A breakout above that level could pave the way for a move toward $0.20. If the rally accelerates, prices could climb to $0.258, marking the first time HBAR trades above $0.25 since early March. However, downside risks still remain. If HBAR fails to hold the support level at $0.153, bearish pressure could drag the token down to $0.124. While technicals are currently leaning bullish, the price remains at a crucial crossroads, with both breakout and breakdown scenarios in play. Until a clear direction emerges, traders should watch these key levels closely.