HBAR is gaining bullish strength amid overall market recovery from its weeks of volatility.

With the recovery of BTC from support levels, altcoins like HBAR are gaining strength, offering traders and investors optimism for the breakthrough.

HBAR price is showing some bullish strength amid the overall market recovery from its weeks of weakness and volatility. As BTC recovers from support levels, altcoins like HBAR are gaining some momentum, offering traders hope for a breakthrough from the ranging behavior. A continuation above current levels of resistance may mark the start of a bullish trend.

At the time of writing, HBAR is trading at $0.1760, with a 24-hour trading volume of $157.06M and a market cap of $7.42B. HBAR’s price in the last 24 hours has risen by 3.16%, and in the last week its price has been impacted by market volatility and has decreased by nearly 3% and is exhibiting signals for further price rise.

Source: CoinMarketCap

HBAR Is Struggling At Resistance- Is A Drop Coming?

A prominent crypto analyst has highlighted that Hedera (HBAR) is currently showing signs of weakness, with technical analysts calling for the creation of a descending triangle pattern in the charts, a well-established bearish continuation signal.

Price has contained an area of a notable support level at $0.1700 and resistance at around $0.1800, where pressure is mounting, and there is a pending break. This type of pattern, where low highs and stable support are seen, usually portends a move downwards if the support level does not hold.

While the Relative Strength Index is at oversold levels, suggesting a short-term recovery, the Moving Average Convergence Divergence is still bearish and shows no sign of reversal of momentum. This discrepancy among the technical indicators is an indication of a mixed market. There might be temporary buying, although with buyers still controlling the overall structure. An oversold RSI may see the market recover slightly, but unless there is a volume drive above $0.1800, such movement might not have much strength.

Source: X

Market participants are advised to watch closely as HBAR stalls at a crucial technical juncture. A decisive breakdown below the $0.1700 will bring the downward trend, but any failed attempt to cross the resistance will reinforce the bearishness. With the broader crypto scene still dealing with macroeconomic uncertainty and Bitcoin’s shaky recovery, HBAR faces an uphill battle, a development that bears tracking in the upcoming days.

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