Hedera (HBAR) has recently experienced a significant loss in value; it dropped by 5% in 24 hours and 25% over the past 30 days. Technical indicators are generally giving negative signals, and the critical support level is being tested.

The BBTrend indicator is at -1.2, and RSI at 22.29 indicates weakening momentum and oversold conditions. This situation indicates both the possibility of a recovery and the likelihood of continued decline.

It is crucial for HBAR to hold the level of $0.153 firmly; if this support breaks, the price could drop to $0.124. On the other hand, the resistance points are found at levels of $0.168, $0.175, and $0.183.

Hedera (HBAR) Under Pressure

HBAR is under serious selling pressure, having lost more than 5% in the last 24 hours and over 25% on a monthly basis. This sharp decline has caused many technical indicators to enter weak territory and raised concerns that the price could decline further.

Momentum has significantly decreased; BBTrend and RSI confirm the loss of strength and increasing selling pressure. Currently, the focus is on the critical support level of $0.153. This support will be decisive in whether HBAR will show a recovery or move towards new low levels.

HBAR Has Lost Momentum

BBTrend value is currently at -1.2. Although there was a recovery from -3.27 during the day, it is still well below the level of 2.63 from two days ago. This situation indicates that momentum has weakened following short-term rises. HBAR may be entering a stagnation period in price movement.

BBTrend analyzes the direction and volatility of the price through Bollinger Bands. A strong rise is shown above +1, and selling pressure is indicated below -1. HBAR's current value of -1.2 shows that selling is continuing, but its intensity may decrease. If BBTrend turns positive, it may be a sign of recovery.

RSI in Oversold Zone

Hedera's RSI value has rapidly dropped from 61.99 to 22.29 two days ago. This indicates that selling has accelerated and the token has entered the oversold region. Oversold conditions may express panic selling but also harbor the possibility of a recovery where buyers may step in.

RSI takes values between 0-100; above 70 is considered overbought, while below 30 is considered oversold. HBAR's current RSI level may limit further price drops and create a potential upward opportunity.

Critical Support Level $0.153

Hedera is currently trading just above the critical support level of around $0.153. This level had served as resistance in previous declines. However, if the support breaks, there is a risk of the price declining to $0.124.

Additionally, the death cross forming in HBAR's EMAs is seen as a technical signal supporting downward momentum. This situation indicates further price loss.

Possible Scenarios

An abrupt recovery in momentum could change the outlook. If bulls step in and move HBAR above the resistance of $0.168, the next targets could be $0.175 and $0.183. High trading volumes are needed to break through these levels as they had previously been significant breakout points.

The direction of HBAR will become clearer in the coming days depending on how it performs at the support level of $0.153.

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