Hedera (HBAR) recovered with a 10% price rise within the last 24 hours. This is on the heels of some of the technical indicators beginning to show signs of a reversal of momentum.
The BBTrend indicator turned positive for the first time in a week, now sitting at 3.96. This shift follows a low of -17.12 on April 1. A positive BBTrend reading suggests growing bullish pressure and potential for a short-term recovery.
Despite this, other signals remain bearish. The Ichimoku Cloud chart still shows strong downward momentum. HBAR trades well below the cloud, with the Tenkan-sen and Kijun-sen lines pointing lower. These indicators continue to act as resistance and signal that sellers still control the market.
The cloud ahead remains thick and red, showing strong resistance above. However, a recent bullish candle shows early signs of a potential relief rally.
HBAR’s Exponential Moving Averages also support a bearish view. Short-term EMAs remain below long-term ones, showing continued downside risk. If selling pressure returns, HBAR may test support at $0.124. A break below this level could push it to new five-month lows.
On the upside, if HBAR breaks above resistance at $0.155, it could rise further toward $0.168. A strong move could even send it to $0.18 or $0.20, but this would need a confirmed EMA crossover.
For now, Hedera shows some recovery signs – but the overall trend remains cautious.
