- MACD formed the golden cross on 9 April.
- $0.16 is now the key support zone to watch.
- A drop below support could send HBAR to $0.12.
Hedera’s native token HBAR recorded a 1% rise earlier in the day, touching $0.17 before paring back gains.
At press time, the token is trading flat, reflecting cautious sentiment despite bullish technical signals.
The brief uptick, which outpaced much of the crypto market, came as key indicators flashed early signs of a potential trend reversal.
Traders are now watching closely to see if HBAR can hold current levels and break toward the $0.19 resistance.
The move comes at a time when most digital assets remain under pressure, drawing attention to HBAR’s relative strength within the altcoin market.
Hedera price outlook
HBAR’s short-lived gain followed a bullish crossover on the MACD indicator, where the MACD line moved above the signal line on 9 April.
Known as a “golden cross,” this pattern often marks the beginning of upward momentum and attracts buyers anticipating a breakout.
The Relative Strength Index (RSI) supports the bullish view, currently reading 49.17.
Though still below the key 50 mark, the uptrend suggests renewed demand for the token.
If the RSI rises above 50 in the coming sessions, it would confirm increasing buying pressure.
Such movement often precedes stronger intraday rallies in technically aligned markets.
$0.16 resistance now in play
HBAR briefly crossed the $0.16 resistance level during its 1% move, an area it had struggled to break since 30 March.
Although the token is now trading flat, holding above this level is seen as crucial.
If $0.16 flips to support, it could create a launchpad for the next move toward $0.19.
A sustained push above this level would mark a break from the downtrend seen throughout late March and early April.
Market participants typically monitor these shifts closely, as breaking above resistance often triggers automated buy orders and new speculative interest.
However, if the token fails to hold, it could return to the lower support zone near $0.12.
Market conditions remain mixed
The broader crypto market has shed over $1.15 trillion since its 2024 peak, with most altcoins posting declines.
HBAR’s earlier strength, albeit brief, stood out against this backdrop.
While it’s now trading flat, the token’s technicals still indicate potential for renewed upside if market sentiment stabilises.
HBAR’s resilience may reflect growing interest from traders focusing on project-specific metrics and momentum indicators, even as macroeconomic uncertainty weighs on risk assets.
With Bitcoin and Ethereum struggling to hold key levels, altcoins like HBAR that show even modest divergence attract speculative interest.
Short-term prediction points to $0.19
Despite the token stabilising at $0.17, bullish signals remain intact.
If the MACD continues to trend positively and the RSI climbs above 50, HBAR could retest the $0.19 mark in the near term.
This scenario assumes that volume supports the move and profit-taking remains limited.
On the downside, if bearish pressure resumes, the token may lose support at $0.16 and drop toward $0.12.
For now, the market remains range-bound, and HBAR’s ability to hold current levels will determine its next breakout attempt.
Traders may also look for further signals from on-chain data or ecosystem developments before entering new positions.
