The HBAR has shown strong upward movement over the past month, reaching $0.19 recently, approaching a significant $0.20 resistance level.
Altcoin’s rally is supported by a wider market shift, placing HBAR for potential breakouts. This could mark the end of the recent downward trend and a significant price recovery.
The hbar bear may end soon
The death cross that occurred on April 13, when the 200-day EMA fell below the 50-day EMA, sparked concern among HBAR traders. However, HBAR’s recent price momentum suggests that the Cross of Death could end sooner than expected. As the current bullish trend continues, the market is able to reverse this bearish signal before completing a month, indicating a positive change in HBAR.
If HBAR continues to maintain momentum, this reversal could be a key turning point for cryptocurrency. The potential end of the Cross of Death restores trust in the token and lets us know that HBAR is ready to overcome recent challenges.
In addition to technical indicators, HBAR’s broader market sentiment is supported by positive funding rates. The funding rate has remained positive for the past three weeks, indicating that long contracts dominate their weaknesses. This trend shows that investors are optimistic about HBAR’s future price transfers, and many are betting on further profits.
This positive sentiment in the futures market suggests strong investors’ demand for HBAR. The ongoing control of the long contract reflects an increased confidence in Altcoin’s potential.
Can Hbar Price take a break?
HBAR is currently testing the $0.200 barrier, but has not violated it for nearly two months. Traded at $0.195, Altcoin is in the cusp of a potential breakout. However, past attempts to overcome this resistance led to pullbacks and became important to determine its trajectory over the next few days.
Strong macroeconomic support allowed HBAR to ultimately break the $0.200 resistance and support it. If this happens, the next goal is $0.222, and we’ll see a breakout after 2 months of consolidation. This price move examines bullish papers and sets the stage for further profits.
However, if HBAR fails to break past $0.200 again, it could drop to $0.182 or $0.167. The decline to these levels erases recent profits and negates bullish outlook. Investors are closely watching the $0.200 level to measure whether momentum can sustain itself.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
