Hedera (HBAR) Eyes Bullish Momentum as Bearish Trends Begin to Fade

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Hedera (HBAR) has surged over 6% in the past 24 hours, aiming to reclaim its $8 billion market cap. Trading volume spiked 19% to $176 million, reflecting renewed investor interest. While key indicators show mixed signals, rising bullish momentum suggests potential for a breakout.


Key Market Indicators

1. BBTrend Signals Caution

Hedera’s BBTrend indicator remains negative at -1.56, reflecting persistent bearish momentum since May 1. However, the slight rebound from yesterday’s low of -6.76 hints at easing selling pressure.

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2. RSI Nears Overbought Territory

The Relative Strength Index (RSI) skyrocketed from 31.41 (oversold) to 66.2 in two days, indicating aggressive buying momentum.

3. EMA Lines Hint at Golden Cross

Hedera’s Exponential Moving Averages (EMAs) are tightening, with short-term averages nearing a crossover above long-term ones—a classic bullish signal (golden cross).


FAQ Section

Q1: What does Hedera’s BBTrend indicate?

A: A BBTrend below -1 confirms bearish dominance, but the recent rebound suggests weakening downward momentum.

Q2: Is HBAR overbought now?

A: With an RSI of 66.2, HBAR is nearing overbought levels but still has room for growth before a potential pullback.

Q3: What’s the significance of a golden cross?

A: A golden cross (short-term EMA crossing above long-term EMA) often signals the start of a sustained uptrend.

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Conclusion

Hedera (HBAR) stands at a critical juncture, with technical indicators pointing to either a bullish breakout or a deeper correction. Traders should monitor $0.191 resistance and $0.175 support levels closely.