Hedera’s (HBAR) price has traded sideways over the past few days, showing signs of consolidation after a period of weak investor participation.
Limited market support kept the token stagnant, but momentum appears to be shifting. Technical indicators suggest renewed optimism, hinting that a potential recovery may soon unfold for HBAR.
Hedera Shows Bullish Signs
The Relative Strength Index (RSI) is showing an upward trajectory, indicating improving buying pressure on HBAR. This incline signals growing investor confidence after nearly three weeks of muted activity.
However, the RSI remains below the neutral 50.0 mark, suggesting the bullish momentum has not yet been fully confirmed.
A move above the 50.0 threshold would mark a transition into positive territory and signal the end of the recent 20-day bearish phase. This shift could attract fresh capital and trading interest, reinforcing the upward sentiment.
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The Moving Average Convergence Divergence (MACD) indicator adds further weight to this potential reversal. In the short term, the MACD has just formed a bullish crossover, with the indicator line crossing above the signal line. This is a classic sign of waning bearish momentum and growing buying interest.
Such a crossover often precedes a price rebound, suggesting that market sentiment is turning more favorable. The shift indicates that HBAR is beginning to align with broader market cues supporting a risk-on environment. If momentum continues building, the cryptocurrency may enter a stronger phase of accumulation.
HBAR Price Can Breakout
At present, HBAR’s price remains consolidated between $0.178 and $0.162. For the altcoin to initiate a clear breakout, it must close above the $0.178 resistance. Doing so would open the path toward the $0.200 psychological barrier, confirming a potential upward trend.
To reach $0.200, a 13.6% increase from current levels would be required. The bullish crossover on the MACD and the rising RSI suggest this move is achievable, provided investor participation continues.
However, if selling pressure returns, HBAR may retest support at $0.162, extending its consolidation phase. A breakdown below this level could invalidate the bullish thesis, pushing prices down to $0.154 and signaling renewed weakness.
The post HBAR Price Forms Bullish Crossover – Is A Rally On The Horizon? appeared first on BeInCrypto.