Hedera (HBAR) is being traded dangerously close to the psychological level of $0.20, with the main technical indicators emitting contradictory signals. The BBTrend showed a slight increase, reaching 0.97, but still faces resistance to surpass the confirmation level of bullish movement at 1, indicating weakness in the current moment.
At the same time, the Relative Strength Index (RSI) significantly retraced from an almost overbought zone to 49.58, a neutral value, reflecting the loss of confidence following Bitcoin's recent decline. With the asset positioned at a decisive point, investors are closely monitoring to assess whether support will be maintained or if a deeper correction will occur.
HBAR's BBTrend advances but faces obstacles in validating the upward trend.
The BBTrend (Bollinger Band Trend) is an indicator that evaluates the intensity and direction of price movements based on the deviation from the moving average within the Bollinger Bands.
Positive values signal an upward trend and buying pressure, while negative values indicate a downward movement. The further from zero, the stronger the trend, making it useful for identifying breakouts or possible reversals.
When the BBTrend remains close to zero, the scenario is one of consolidation or indecision. Sustained values above 1 are often interpreted as a sign of strengthening movement.
HBAR BBTrend. Source: TradingView.
The current reading of BBTrend for Hedera (HBAR), at 0.97, represents a significant recovery after the indicator reached -8.99 on May 19, remaining in negative territory until May 22.
The return to positive territory suggests an attempt at reversal in the market moment in favor of HBAR. However, the difficulty in surpassing and sustaining levels above 1 reveals limited conviction on the part of investors regarding a consistent upward movement.
Although the indicator signals an improvement in trend, it also shows caution on the part of buyers, which may cause the asset to remain in a sideways range unless a new relevant impulse emerges.
Hedera's RSI retraces to neutral level after selling pressure driven by BTC.
The Relative Strength Index (RSI) of Hedera dropped to 49.58 after registering 69.91 the previous day. The sharp decline indicates a clear loss of buying interest, reflecting increased risk aversion in the market after Bitcoin retraced 3% in light of former President Donald Trump's threat to impose a 50% tariff on the European Union.
This RSI retracement highlights the rapid deterioration of investor confidence in HBAR, which returned to a neutral zone after nearly reaching overbought conditions. The correlation with BTC's retracement emphasizes the altcoin's sensitivity to broader market movements.
HBAR RSI. Source: TradingView.
The RSI (Relative Strength Index) is a momentum indicator that evaluates the intensity of recent price variations to identify potential overbought or oversold conditions of an asset.
The scale ranges from 0 to 100: readings above 70 typically signal overbought conditions and possible correction, while values below 30 indicate oversold conditions and a chance of recovery. With Hedera's RSI near the 50 mark, the token demonstrates a lack of defined direction, reflecting uncertainty among investors.
For the moment to favor the asset again, a new optimistic impulse or a broader stabilization in the market would be necessary — especially from Bitcoin.
HBAR approaches $0.20 with support levels under surveillance.
Hedera is at a decisive technical point, trading slightly above the psychological support of $0.20. If selling pressure continues, the asset may break this level and retrace to the next support at $0.192.
If this level is also lost, there is a risk of additional decline to $0.184, which may intensify selling pressure in the short term.
HBAR Price Analysis. Source: TradingView.
The current scenario reflects widespread fragility in the cryptocurrency market, intensified by Bitcoin's recent retracement.
If market sentiment stabilizes and HBAR resumes its upward trend, the asset will encounter its first resistance at $0.209. If it consistently breaks through this level, it could advance to $0.228 — a zone that requires strong buying volume and broader market support to sustain recovery.
The article Hedera (HBAR) retraces and tests support at $0.20 was first seen on BeInCrypto Brazil.
