HBAR Price Near a Range Break — And the Next Move Could Hurt Bulls
HBAR is consolidating near a range break, but bearish momentum and volume divergences suggest the next move may favor sellers, potentially targeting $0.122.Summary
Hedera (HBAR) has seen a nearly 31% drop over the last month, despite a recent 27% rebound that has since stalled. The price is currently trading in a tight range between $0.151 and $0.140, which appears ready to break. Momentum signals suggest this break may hurt bulls, as a hidden bearish divergence formed between the RSI (which made a higher high while the price made a lower high) and the price action following the rebound. Furthermore, On-Balance Volume (OBV) shows a bearish divergence with the price making a higher low while OBV made a lower low, indicating fading buyer strength.
If the lower bound of the range at $0.140 breaks, HBAR could move toward the recent support zone at $0.122, effectively negating the weekly gains. For the bearish outlook to be invalidated, HBAR needs OBV to break its descending trendline, and the price must close above the resistance level of $0.151, a level not crossed since November 16. Until these bullish conditions materialize, HBAR remains at risk of extending its prior downtrend.
(Source：BeInCrypto)