Hedera (HBAR) Faces Bearish Pressure: Will Key Support Hold Against Further Declines?
The post Hedera (HBAR) Faces Bearish Pressure: Will Key Support Hold Against Further Declines? appeared on BitcoinEthereumNews.com.
Hedera (HBAR) is facing significant bearish pressure as it trades below the critical $0.20 mark, having slipped over 5% in the past week. Technical indications from DMI and Ichimoku Cloud suggest a growing bearish sentiment, with sellers gaining traction while buyers attempt to defend key support levels. “If HBAR fails to hold the $0.184 level, it could potentially plunge below $0.17, while a breakout above $0.195 might signal a bullish shift,” reports COINOTAG. This article explores the current bearish trend of Hedera (HBAR), examining technical indicators and critical support levels that could influence its trajectory. The Bearish Trend of Hedera: Analyzing Recent Developments Hedera (HBAR) has persistently traded below the $0.20 threshold, indicating a challenging market environment for this cryptocurrency. Over the past week, the downtrend has made it increasingly difficult for investors to find optimism in the asset’s price action. Recent data points from the Directional Movement Index (DMI) and the Ichimoku Cloud further illuminate the prevailing market conditions, revealing that the token is under considerable bearish pressure. This situation prompts investors to reconsider their positions and strategies. DMI Indicates Weakening Buying Strength Amidst Growing Selling Pressure The Hedera ADX, a tool for measuring trend strength, has climbed to 16.15, slightly up from 11.5 yesterday, suggesting a slow but noticeable rise in trend momentum. Earlier today, it peaked at 17.16, hinting at an evolving trend despite remaining below the critical threshold of 20. However, the details paint a more complicated picture: while the bullish pressure tracked by the +DI line has declined from 26.95 to 20.27, the bearish pressure reflected by the -DI line has risen from 13.97 to 16.65. This suggests that while buyers have not completely surrendered control, sellers are becoming increasingly aggressive. Source: TradingView With the ADX still hovering below 20, the overall trend is classified…
Filed under: News - @ March 21, 2025 5:21 am