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Hedera’s (HBAR) recent price recovery signals potential bullish momentum, driven by technical indicators amidst a challenging bearish landscape.
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Despite a notable rebound over 10% in the past day, all eyes remain on critical resistance levels that may impede further upward movement.
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“The current BBTrend value of 3.96 suggests that Hedera is showing early signs of a potential bullish reversal,” highlights a recent analysis by COINOTAG.
Hedera (HBAR) shows early signs of bullish momentum, with critical price levels influencing its potential recovery amid bearish trends. Read on for a deep dive.
Hedera BBTrend Signals Early Bullish Momentum
As of April 1, Hedera’s BBTrend indicator has flipped positive, registering a value of 3.96 after a week spent in negative territory. This shift comes after experiencing a low of -17.12, indicating a potential change in market sentiment.
The BBTrend (Bollinger Band Trend) serves as a momentum-based metric assessing the strength and direction of a price trend within the Bollinger Bands. Values above 0 indicate increasing bullish momentum and prospects for price gains, while values below 0 suggest continued bearish pressure.
Current analysis indicates that the positive BBTrend could signify a resurgence in buying interest. However, for a sustained recovery, HBAR must maintain its position above the observed levels. Otherwise, failure to hold this upward trend may result in a sideways drift or renewed downward pressure.
Bearish Outlook from the Ichimoku Cloud
The current Ichimoku Cloud chart configurations for Hedera suggest a dominant bearish sentiment. HBAR is significantly positioned below the cloud, which reinforces prevailing downward momentum.
Both the Tenkan-sen (blue line) and Kijun-sen (red line) are trending downward, forming critical resistance levels. This suggests that sellers retain control over the price action.
The thickness of the red cloud indicates strong resistance ahead, though recent bullish movements toward the Tenkan-sen could hint at an emerging relief rally. A successful breakout above these resistance lines will be essential for any substantial trend reversal.
In summary, while short-term upside potential exists, the overarching trend remains bearish until significant price advancements occur.
Potential Drop to 5-Month Lows for HBAR
Hedera’s EMA (Exponential Moving Average) lines are currently positioned in a way that suggests ongoing bearish momentum. Short-term EMAs fall below long-term averages, reinforcing the notion of a downward trend.
In the event of further selling pressure, HBAR may test crucial support at $0.124. A breakdown beneath this threshold would mark its first fall below $0.12 since November 2024.
Conversely, if HBAR can rally above its current pattern, it could aim for resistance around $0.155, with potential for further gains reaching $0.168 and possibly even towards the $0.18 to $0.20 zones.
A crossover of short-term EMAs above long-term EMAs would act as a strong signal of a prospective trend reversal, suggesting a positive shift in market dynamics.
Conclusion
In conclusion, Hedera’s recent technical indicators display conflicting signals that will shape its price trajectory in the near term. While the positive BBTrend provides a glimmer of hope for bullish momentum, the Ichimoku Cloud and EMA suggest that significant challenges remain. Investors should remain vigilant as HBAR navigates these complexities in the coming days.
