The native token of Hedera, Hbar, is showing signs of intensification of the bearish impulse, since technical indicators such as the relative force index (RSI) and the balance of power (BOP) suggest a growing domain of vendors in the market.
The price of the Token has fallen 3.4% in the last week, now quoting at 0.1703 dollars, below its maximum of April 0.1747 dollars.
This fall has left Hbar struggling to stay above the key support levels, with the RSI reading in a worrying 44.62 in the one day graph.
Fountain: Coinmarketcap
The RSI, a key impulse indicator used to evaluate whether a cryptocurrency is overcompraded or oversized, operates on a scale of 0 to 100. A RSI value below 50 usually reflects a weakening of the price impulse.
In the case of Hbar, the fact that its RSI falls below the neutral brand of 50 and has a downward trend indicates a growing sales pressure.
Unless there is a strong upward movement, the current trend can reinforce new declines.
Power balance reading becomes negative
In addition to the RSI, the Hbar power equilibrium indicator has become negative, with a reading of -0.23 from the latest data.
The balance of payments compare the relative force of buyers and sellers for a defined period of time.
A negative reading of the balance of payments means that sellers are currently more dominant, which could even weigh the Hbar price in the next few days.
When the balance of payments remains in negative territory during a bearish trend, it reflects a continuous bearish feeling throughout the market.
Combined with the low HBAR performance in other indicators, this suggests that buyers are currently marginalized and may need a strong trigger, such as a rebound throughout the market or an important development in the Hedera network, to recover the impulse.
The price quotes below the key trend line
Hbar has also fallen below a descending trend line, which reinforces the bearish configuration.
A line of descending trend is drawn by connecting lower maximums for a period, indicating a constant downward pressure on the price.
If Hbar fails to break this line up, the trend can be maintained.
This formation has kept the token blocked on a descending channel for several weeks.
While the price action remains below the trend line, technical traders can see this as a signal to sell or sell the asset in short.
In the event that the descent continues, the next key support level is close to USD 0.150.
A rupture below this level could pave the way for new losses unless a strong demand emerges again.
What Hbar needs for recovery
While the technical panorama is still weak, some factors could help change the impulse in favor of Hbar.
A rupture above the line of descending trend, if accompanied by an increase in volume, could initiate a reversal and allow the Token to point to a recovery towards USD 0.185.
This level represents a key resistance zone, previously tested at the end of April.
However, for that to happen, Hbar needs to see a renewed interest of investors, either for positive developments in the hedera ecosystem or a broader recovery in the Altcoins market.
Without a significant catalyst, the impulse indicators of the Token continue to suggest short -term bearish conditions.
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