Hedera (HBAR) is on the brink of a potential bullish reversal, needing a 9% price increase to confirm the shift. Currently trading near $0.17, HBAR has faced a persistent downtrend, dropping 5% in the past week and nearly 24% over the past month. However, technical indicators suggest a reversal may be forming.
The Relative Strength Index (RSI) shows a bullish divergence, indicating that sellers may be losing momentum. Additionally, the Chaikin Money Flow (CMF) remains positive at 0.18, suggesting continued interest in HBAR despite recent declines. For a confirmed reversal, HBAR must break above the $0.19 resistance level, a barrier that has halted upward movements since October 11. A successful breach could propel the token towards resistance zones at $0.23 and $0.25. Conversely, a drop below $0.16 could negate the bullish setup.
Hedera (HBAR) Eyes 9% Surge for Bullish Reversal Amid Technical Signals
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