Hedera HBAR Faces Critical Support Test as Bearish Signals Mount
Hedera’s HBAR token is currently trading around $0.17999, confined within a tightening range between $0.16 and $0.22. The persistent decline since early May presents challenges for bullish investors, with a series of lower highs solidifying the downward trend.
Technical indicators are raising red flags. The RSI at 38.68 approaches oversold levels while the MACD’s bearish crossover (-0.00038 vs -0.00180) confirms diminishing momentum. Price remains below both the 9-EMA ($0.18345) and TEMA ($0.18067), indicating sustained selling pressure.
Traders are monitoring two key thresholds: a drop below $0.17894 could trigger accelerated declines toward $0.16, while any bullish reversal WOULD need to overcome resistance at $0.19330 and $0.22853 to change market sentiment.
