HBAR Gives a Reversal Signal with a 12% Increase: Critical Levels Being Closely Monitored

Hedera (HBAR), which has followed a sharp downward trend in recent weeks, has given a recovery signal with an impressive 12% bounce. This rise may herald a potential trend change following a two-month decline. Particularly, the technical signals given by the RSI (Relative Strength Index) indicate that buyer interest is beginning to increase.

RSI is Turning from the Oversold Region: Buying Interest is Strengthening

The RSI value of HBAR recently fell below the critical threshold of 30, entering the oversold region. This level is generally considered a harbinger of a potential reversal. The subsequent price increase indicates that selling pressure has eased and buying sentiment has resurfaced. This development is viewed as one of the first hopeful signs that the downtrend may be coming to an end.

HBAR-Bitcoin Correlation: Opportunity or Risk?

The price movement of HBAR shows a high correlation with Bitcoin (BTC) at around 0.80. This means that HBAR has the potential to benefit from upward movements in Bitcoin, while possible declines in BTC could also exert pressure on HBAR. Therefore, it is critically important for investors to carefully monitor Bitcoin's overall trend to predict HBAR's direction.

Eyes on $0.154 and $0.163 Levels for Continuation of the Uptrend

HBAR is currently trading at around $0.150, and the price faces strong resistance at $0.154 and $0.163 levels in the short term. A break above these levels will not only confirm the current recovery but may also open the doors to a more sustained upward movement. This breakout could also contribute to the restoration of investor confidence.

If Momentum Weakens: Pullback Risks are on the Table

On the other hand, if this rise does not continue, there is a risk of a pullback towards $0.139 and $0.133 support levels for HBAR. Falling below these levels could suggest that the downtrend may continue and that the recent rise could be a temporary relief rally. Especially losing the $0.133 support could lead to the price testing lower levels.

Conclusion: Uncertainty Continues, Critical Thresholds Should be Monitored

Despite positive signals in technical indicators, HBAR is still treading in a sensitive area. Daily closes above $0.154 and $0.163 could be a turning point for a bull market, while potential pullbacks to support levels require investors to remain cautious. Especially due to the strong correlation with Bitcoin, movements in BTC can directly affect HBAR's fate.


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