Hedera (HBAR) price has dropped 12.5% in the past 24 hours due to bearish market indicators. This aligns with a declining ADX, suggesting a weaker trend strength despite persisting downtrend.
Trading below its Ichimoku Cloud indicates resistance and adds to the bearish momentum. However, a momentum shift could help HBAR recover if key supports hold.
HBAR’s ADX fell from 37.9 to 27.9, confirming the ongoing downtrend's strength. But if ADX continues to fall, HBAR might consolidate with less selling pressure.
A reversal won't happen until buying activity counters bearish forces. Supports around $0.27 and $0.26 are critical to preventing further drops.
To negate bearish setups, the price must rise above crucial EMAs. If accomplished, it might reach $0.30, with potential highs up to $0.338.
