Hedera (HBAR) has registered a 4% price increase over the last 24 hours while remaining entrenched in a short-term downtrend. The cryptocurrency continues to trade below the pivotal $0.160 resistance level, which technical analysts identify as the key threshold for determining its next directional movement.
Technical indicators present conflicting signals: The BBTrend has plunged to -12.41, reflecting intensifying bearish momentum. Conversely, the Relative Strength Index (RSI) has rebounded sharply from an oversold position of 26.6 to 50.39, indicating resurgent buying interest and potential stabilization after recent declines.
The persistent negative BBTrend reading suggests HBAR may face continued downward pressure or consolidation near lower support levels unless buying volume substantially increases. Despite the RSI recovery, bearish pressure persists as short-term Exponential Moving Averages (EMAs) remain positioned below long-term EMAs. Market observers emphasize that HBAR’s ability to breach the $0.160 resistance will be critical for any potential trend reversal.