HBAR gave a recovery signal with the reaction it received from the short-term trend line, following the downward trend that has been effective in recent weeks. While the price found buyers again in a region where the downward pressure weakened, the focus in the market turned to whether a higher peak would be formed. While the market value of HBAR is approximately 3.06 billion dollars, its daily transaction volume is over 43 million dollars.
Short-term resistance has been overcome
According to the analysis shared by Inca Investments, HBAR broke above the short-term resistance line that has been pulling the price down for a while. This move stands out as one of the first positive signs in the technical outlook. However, in order to talk about a new upward trend, current local peaks must be overcome.
Inca Investments states that exceeding the current local peaks may open space for the continuation of the rise, while a strong rejection may push the price back to previous support zones.
In intraday volatility, HBAR rose to $0.07267. The price then headed towards a stabilization area near $0.07. Although this outlook shows that buyers have returned to the market, additional volume support remains important for the permanence of the movement.
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Signs of recovery came to the fore in indicators
TradingView data indicates that HBAR is still in a broader bearish trend on the daily chart. The asset has gradually retreated from previous levels above $0.20 and remains below former key thresholds.
However, some early signals of momentum are gaining ground. The RSI is at around 47.96 and is above the signal line around 40.93. Although the MACD indicator remains below the zero line, the histogram appears stronger compared to previous weeks, indicating that the selling pressure may weaken.
Although the indicators support the possibility of recovery in the short term, purchasing pressure must be maintained and a higher peak must be formed in order for this structure to strengthen.
Market structure is in the new testing phase
The chart structure indicates an attempt to change the trend after a long period of weakness. Although it seems that buyers have managed to defend the lower levels, HBAR still has multiple strong resistance points ahead of it to confirm a new uptrend.
According to BraveNewCoin data, the recent bounce was supported by the reaction from the falling trend line. Despite this, HBAR is trading well below the historical high of $0.57 seen in September 2021. Therefore, supporting the current recovery with stronger demand and volume will be decisive in terms of the technical outlook.
The main factor monitored in the market continues to be transaction volume. If buyers manage to produce higher highs, the short-term bullish structure may gain strength; Otherwise, previous support areas may come to the fore again.
