On April 14, a “death cross” appeared on the daily chart of HBAR, signaling a potential decline. However, the token exceeded bearish expectations, rising 20% over the past two weeks amid a general market recovery.
Although bullish momentum has somewhat diminished in recent days, bulls remain in control. If demand increases, the HBAR token may be poised for further growth.
HBAR bulls maintain control after the “death cross”.
The “death cross” occurs when the short-term moving average of an asset—usually the 50-day—crosses below its long-term moving average, usually the 200-day.
This crossover indicates that the recent price momentum of the asset is weakening, and a long-term downward trend may form. The pattern often signals increased selling pressure, as traders typically interpret it as a marker of negative market sentiment shifts. However, this is not always the case, especially in volatile or recovering markets where price dynamics can contradict traditional technical signals. For example, the value of HBAR has risen 20% over the past two weeks.
Although bullish momentum has somewhat decreased over the last three trading sessions, bulls remain firmly in control. The Moving Average Convergence Divergence (MACD) indicator metrics for HBAR confirm this. Although the bars of this indicator have decreased over the last three days, reflecting a slowdown in bullish momentum amid overall market consolidation, the MACD line remains above the signal line, indicating that buying pressure still dominates among traders.
This configuration hints at the likelihood of further price increases despite the “death cross”.
HBAR is steadily rising—will it hold its positions or return to $0.15?
Since April 16, HBAR has been trading along an ascending trend line, which is a bullish pattern when an asset consistently makes higher lows over time. This indicates growing investor confidence and sustained upward momentum, even amidst short-term pullbacks.
For HBAR, this trend indicates that buyers continue to enter the market at increasingly higher price levels, strengthening support levels. If the trend persists, it could pave the way for further growth, especially if market sentiment remains positive.
The price of HBAR could break above resistance at $0.19 in this scenario and rise to $0.23. Conversely, if sell-offs resume, the price of the HBAR token could fall to $0.15.#Write2Earn #BinanceSquare #Squar2earn #Binance #crypto $ETH