For this coin investors, things don’t seem to be heartwarming, and even the bear season may have started for this coin. In the crypto money market in recent weeks, entering the trend of a decline in HBAR, $ 0.18 is difficult to overcome resistance. In particular, negative signals that appear in technical indicators indicate that the price may decline even sooner. When both the weak investor interest and the negative market atmosphere combined, the alarm bells began to play for HBAR.
The danger of the bear season is getting closer
Death Cross, one of the most feared formations in terms of technical analysis, is very close to HBAR. This formation is formed by the 50 -day EMA’s fall below the 200 -day EMA and is often considered a harbinger of a harsh decline. Currently, there is only 7.7 %difference between these two average.
This causes investors to be cautious. If Death Cross occurs, sales pressure may increase, and HBAR’s chances of upward breaks may be thoroughly reduced. Technically, the realization of this formation will confirm that the market is under the control of bears.
RSI values are also worsening
Hbar’s technical weakness is not limited to the EMA formation. RSI (Relative Power Index) data is also very worrying. Since the beginning of March, the RSI value remains constantly in the bear area. This shows that the price has been carrying downward momentum for a long time.
The latest price movements have taken the RSI further down, which shows that the procurement pressure is quite low. Since there is a similar weakness throughout the market, it seems very difficult to recover HBAR in the short term.
HBAR may lose the level of $ 0.154, the bear season may start
At the time of spelling, the price of HBAR is traded at $ 0.171. The crypto currency recently lost $ 0.177 and confirmed its weakness. The previous rise attempt was rejected from $ 0.197. This reveals that Hbar is low -upward breaking.
If the decline persists, the next critical support will be $ 0.154. If this level is broken, the price is possible to decrease to $ 0.133. This means a serious loss of value for HBAR. Considering the current market conditions, this scenario is strong.
Is there hope? Is it possible over $ 0.200?
Still, not all scenarios are dark. If the price of HBAR reclaims $ 0.177 and then exceeds $ 0.197, it can create a positive atmosphere in the market. This scenario can allow Hbar to rise over $ 0.200 again.
However, for this, both the increase in the transaction volume and a positive atmosphere is essential throughout the market. Otherwise, HBAR investors seem to face a more challenging process for a while.
