"Death Cross" HBAR may disappear in a month: price has risen by 12%

The Hedera Token ( HBAR ) has shown a strong rise over the past month, recently reaching a mark of $0.19 and approaching an important resistance level at $0.20.

Let's figure out what's happening in the Hedera market (HBAR) and what to expect from the cryptocurrency price.

Want to stay updated on the main crypto events? Subscribe to our weekly newsletter and receive the most important news directly to your email!

The bear scenario for HBAR may soon come to an end

The "Death Cross," which formed on April 13, when the 200-day EMA crossed above the 50-day EMA, has raised concerns among HBAR traders. However, the recent dynamics of HBAR indicate that the pattern may disappear sooner than expected. If the current bullish trend continues, the market may negate this bearish signal before the end of the full month, which would be a positive shift for HBAR.

If HBAR continues to gain momentum, this turnaround could be a key moment for the cryptocurrency. The potential completion of the "Death Cross" will restore confidence in the token and indicate HBAR's readiness to overcome recent difficulties.

Moreover, over the past three weeks, funding rates have remained positive, indicating a predominance of long contracts over short ones. This points to investor optimism, who expect a rise in the price of HBAR.

A positive sentiment in the futures market indicates a high demand for HBAR. The dominance of long contracts reflects confidence in the potential of this altcoin.

Will the price of HBAR recover

At the time of writing this material, HBAR is attempting to break the barrier at the level of $0.200, which has not been overcome for almost two months.

If HBAR receives strong macroeconomic support, it may finally break through the resistance at $0.200 and turn it into support. In this case, the next target will be $0.222, which will confirm the breakout after two months of consolidation. Such a price movement will confirm the bullish scenario and create conditions for further rise.

If HBAR cannot overcome the mark of $0.200, its price may fall to $0.182 or even $0.167. Such a decline would negate recent successes and cast doubt on optimistic forecasts. Investors will closely monitor the level of $0.200 to understand if the current momentum will be maintained.

Do you want to be part of a large and friendly BIC community? Then subscribe to our group on Telegram — there you will find communication with crypto enthusiasts, assistance from our experts, and exclusive comments from experienced analysts.