HBAR Price’s Death Cross Could Prevent 17% Rise To This Crucial Level
Hedera's (HBAR) price faces bearish pressure due to a technical Death Cross, potentially hindering a 17% rally to $0.200.Summary
Hedera (HBAR) is showing limited growth potential as bearish technical signals intensify, highlighted by the formation of a Death Cross, where the 200-day EMA crosses above the 50-day EMA, signaling the end of a recent bullish streak. Macro indicators also suggest caution, as Hedera's Open Interest (OI) has stabilized around $129 million following a significant liquidation, indicating reduced speculative activity.
At the time of writing, HBAR trades around $0.170, stuck between $0.178 and $0.162. The current bearish indicators suggest HBAR might consolidate or drop below $0.162 toward $0.154. However, if investor confidence returns and HBAR breaks above $0.178, it could initiate a rally toward the crucial $0.200 level, representing a potential 17.6% increase that would negate the current bearish outlook.
(Source：BeInCrypto)