Hedera (HBAR) is showing strong resilience as the broader crypto market shifts into a bullish recovery. Over the last 24 hours, HBAR gained nearly 1.54%, though it is still down 7.76% over the last week.
At the time of writing, HBAR is trading at $0.2213 with a 24-hour trading volume of $289.2 million, marking a 17.05% increase. The market capitalization stands at $9.38 billion, reflecting its steady position among leading altcoins.
HBAR’s stability above the 20-week SMA at $0.2074 underscores its ability to defend critical support despite recent pullbacks from the $0.32 zone. Weekly candlesticks indicate buyers are committed to holding the $0.21 area, reinforcing a consolidation base before any decisive move.
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Bollinger Bands provide a clearer view of the consolidation trend. With the price holding slightly above the middle band at $0.2074, HBAR signals neutrality but keeps the door open for an upside recovery. The upper band rests at $0.2956, while the lower sits at $0.1192. Narrowing bands hint at a stronger breakout soon.
Support levels remain well-defined at $0.2070 and $0.1914, with stronger support near $0.1192 if selling pressure intensifies. As long as $0.2070 holds, the bullish case for a rebound remains valid. A violation of that level, however, may reverse momentum and produce a bearish setup once again.
On the upside, resistance lies at $0.2330. A breakthrough of that level would open the way to the upper Bollinger Band at $0.2956. The next targets would be $0.3227 and $0.4008 to confirm a new bull trend.
Momentum indicators are flashing cautious optimism. The RSI (14) is at 51.73, just below that neutral 53.42 level. This level reflects neutrality but minutely inclines to caution. A breakout above 55 would confirm stronger bulls’ momentum, while breaking below 50 would confirm renewed risk to the downside.
The MACD also provides a mildly positive bias. With the MACD line residing 0.0150 above the signal line 0.0131 and with the histogram being positive at 0.0018, the setup is suggestive of early phases of a probable comeback. But sluggish momentum suggests that better volume on the buy side is needed for a lasting upmove.
Also Read: Hedera (HBAR) Price Outlook: Bulls Target $0.40 on Growing Momentum
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