Hedera (HBAR) is moving in a positive direction while broader crypto markets remain in transition. Bitcoin and Ethereum continue to struggle for a bullish reversal, yet HBAR has managed to stay above critical levels. Over the past 24 hours, the token gained nearly 2.17%, although it remains down 7.76% over the week.
At the time of reporting, HBAR trades at $0.2210 with a 24-hour trading volume of $289.2 million, reflecting a 17.05% rise. The market capitalization stands at $9.38 billion.
The 20-week simple moving average at $0.2074 has turned into a crucial support level. Buyers defended this area following the recent rejection from the $0.32 zone. Market action suggests traders are seeking to stabilize near the $0.21 mark before deciding the next move. The weekly candle patterns further reinforce this consolidation narrative.
HBAR technical indicators highlight neutral phase
Bollinger Bands are narrowing, signaling falling volatility. Support at midline is $0.2074 and remains stable, upper band $0.2956 and lower band $0.1192. Trading in midlines shows a neutral phase, but remaining above keeps the upside potential alive. This type of narrowing tends to be followed by a larger swing either way.
Immediate support levels are $0.2070 and $0.1914, and additional cushioning is seen around $0.1192 should bearish strength gain further steam. For a trade to $0.2956 on the upper side, HBAR would need to first penetrate resistance at $0.2330. A break through it could unleash targets at $0.3227 and $0.4008.
Momentum indicators suggest cautious optimism
The Relative Strengthsi stays at 51.73, below its signal line of 53.42, indicating even-keeled momentum. Staying above the 50 level supports the idea of a reversal rebound, but such a breakout above 55 would offer crisper bullish corroboration. A dip below 50 would trigger added bear pressure.
MACD displays a subtle bullish crossover with a positive histogram of +0.0018. It shows initial signs of a return, but also spells out a need for heightened purchase activity for gains to hold. HBAR stays in consolidation mode, waiting for demanders to take on resistance to trigger a clearer uptrend.
