The token has seen

The network recently experienced a price drop, reaching a two-month low after failing to end a month-long downward trend. Despite this, consistently optimistic traders remain undeterred, holding their positions.

These traders continue to believe in the possibility of recovery despite the current market challenges.

Traders remain optimistic

The funding rate for HBAR has generally remained positive, with only one dip into negative territory, indicating ongoing confidence among traders. This sustained positive sentiment suggests that traders are convinced that HBAR will eventually recover.

This ongoing optimism is crucial for HBAR's recovery. Traders are positioning themselves for a rebound, indicating that the recent price decline is not deterring market participants. If this sentiment remains intact, it could lead to a reversal in the token's price, helping it surpass recent resistance levels.

HBAR Funding Rate.

Technically, the Relative Strength Index (RSI) for HBAR has recently slipped into negative territory but is now showing signs of a potential rebound. This movement is typical for a market correction, and the RSI currently indicates that a reversal may be imminent.

If the downward momentum continues, the RSI may enter oversold territory, which is often a sign that a reversal is imminent. The position of the RSI is a key indicator that HBAR may soon experience a recovery. Historically, similar conditions in early April led to a price increase.

RSI of HBAR.

HBAR needs to secure support

Currently, HBAR is trading at $0.151, down 15.8% over the past week and below the resistance level at $0.154. The altcoin is struggling to break away from its two-month low but is showing signs of recovery.

If the reversal indicators hold, HBAR may bounce back from its current low. To solidify this recovery, HBAR needs to secure both $0.154 and $0.163 as support levels. Maintaining these levels will provide a strong foundation for further upward movement, indicating the end of the downward trend.

HBAR Price Analysis.

However, if geopolitical tensions worsen or broader market conditions negatively impact HBAR's price, further declines may occur. A breakdown below the support level of $0.145 could push HBAR down to $0.139, nullifying the optimistic outlook. This would represent a significant shift in market sentiment and could lead to further price erosion for the token.