Hedera's native token, HBAR, is experiencing a steady recovery as the crypto market sentiment improves following a ceasefire agreement between Israel and Iran. After hitting a 12-day low, HBAR's price rebounded shortly after the announcement on Monday, showing gradual gains. Currently, HBAR trades near its 20-day Exponential Moving Average (EMA), which reflects the average price over the last 20 trading days, emphasizing recent price movements. A decisive break above this EMA could confirm a bullish reversal, potentially leading to new highs. The Elder-Ray Index readings support this positive outlook, indicating increased demand for the altcoin. As of now, the index sits above zero at 0.0052, suggesting strong buyer momentum. Additionally, HBAR's funding rate remains positive at 0.0057%, indicating that futures traders are optimistic about a price rebound. Currently priced at $0.152, if HBAR breaks above its 20-day EMA, it could rise to $0.164; however, a loss of support could see it drop to $0.147 or even $0.133. Read more AI-generated news on: https://app.chaingpt.org/news