Hbar (HELAra) experienced a harsh decline in the last week. The price dangled below critical support levels and has difficulty in winning these levels back. If the procurement pressure does not increase, HBAR may lose more value. So, can the price be recovered or will the decline continue?
Hbar faces critical resistance
The general market decline and the weak demand for HBAR caused the price to depreciate 24 %in the last seven days. Currently traded at the level of $ 0.23, Hzera follows a trend that makes investors anxious.
This decrease led to the price of the price under the Ichimoku cloud. According to this indicator, HBAR moves under a strong area of resistance. If the price cannot be above this cloud, the bear market pressure may continue.
Technical indicators point to decline
The price of the Hedera fell below the 20 -day mobile average (EMA). This shows that the market tends to decline in the short term.
When an asset is traded on the 20 -day EMA, buyers have dealt with control. However, the dominance of the vendors continues because Hacera is currently below this level. If the price does not exceed this level, the downward trend may continue.
Can HBAR rise to $ 0.28?
The relative power index (RSI) of Hedera is at 35.58. The RSI indicator determines the excessive purchase or over -selling state of an asset. Over 70 means excessive purchase and over 30 means excessive sale.
Hbar is currently approaching the over -selling zone. If the RSI drops below 30, the probability of recovery may increase. In such a scenario, HEDera may rise to $ 0.28. However, if the sales pressure persists, the price may decrease below $ 0.20 and decrease to $ 0.16.
Conclusion: Critical Days for Hbar Begin
Technical indicators show that HBAR is tending to decline. However, if it enters the extreme sale zone, it may be possible to recover.
Investors should closely follow the price movements in the coming days. If the HBAR exceeds the critical level of $ 0.28, a new upward trend can start up to $ 0.40.
