The price of HBAR has declined to $0.2391, falling below its 20-day Exponential Moving Average (EMA) of $0.2446. This technical development indicates rising selling pressure and establishes short-term bearish momentum for the cryptocurrency.
The downturn is further validated by a bearish crossover in the Moving Average Convergence Divergence (MACD) indicator. This signal heightens concerns about potential extended price declines should prevailing market sentiment remain negative.
Market analysts highlight that the 20-day EMA serves as a critical gauge for short-term trends, with prices below this threshold reinforcing bearish control. A sustained position beneath this level could push HBAR toward retesting the next significant support at $0.20.
However, a shift toward positive market sentiment might catalyze an upward rebound. Should buyers regain momentum, a recovery above the $0.26 resistance level remains feasible, potentially reversing the current bearish trajectory.