Hedera (HBAR) price has been flat for the past few days, showing signs of consolidation after a period of low investor participation.
The token has been stagnant due to limited market support, but momentum appears to be changing. Technical indicators once again suggest optimism, suggesting that a potential recovery in HBAR could unfold soon.
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Hedera shows signs of strength
The Relative Strength Index (RSI) is showing an upward trajectory, indicating that buying pressure on HBAR is improving. The trend shows investor confidence is increasing after nearly three weeks of slow activity.
However, the RSI is still below the neutral mark of 50.0, suggesting that the bullish momentum is not yet fully confirmed.
A move above the 50.0 threshold would signal a move into positive territory and mark the end of the recent 20-day bearish phase. This change could attract new capital and deal interest, reinforcing the rally.
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The Moving Average Convergence Divergence (MACD) indicator further weights this reversal possibility. In the short term, the MACD has just formed a bullish crossover, with the indicator line rising above the signal line. This is a classic sign that bearish momentum is weakening and buying interest is increasing.
Such crossovers often precede a price rebound, suggesting that market sentiment is becoming more favorable. This change indicates that HBAR is beginning to align with broader market cues that support a risk-on environment. If momentum continues to build, the cryptocurrency could enter a stronger accumulation phase.
HBAR Price Could Breakout
Currently, HBAR price is stable between $0.178 and $0.162. For the altcoin to initiate a clear breakout, it will need to close above the $0.178 resistance. That would pave the way for the $0.200 psychological barrier and confirm the potential uptrend.
Reaching $0.200 would require a 13.6% rise from current levels. A bullish MACD crossover and rising RSI suggest that this move is achievable as long as investor participation continues.
However, if selling pressure returns, HBAR could retest the $0.162 support and extend the consolidation phase. Below this level, the bullish thesis could be invalidated and the price could fall to $0.154, indicating fresh weakness.
