Convergence

Hedera

Divergence

In recent weeks, Hedera Hashgraph (<a href="https://yellow.com/asset/hbar" rel="noopener noreferrer nofollow">HBAR</a>) has faced significant challenges, with its price dropping by 23% over the past week. Concerns are rising about a potential market downturn as the altcoin struggles to break the $0.40 threshold. This troubling trend is highlighted by the token's failing price action and the growing skepticism among investors.
HBAR's waning social dominance is a notable <a href="https://beincrypto.com/hbar-price-rally-faces-reversal/" rel="noopener noreferrer nofollow">factor</a> in its struggle to retain investor interest. At the beginning of December, discussions about HBAR peaked on social media, accounting for 3.84% of crypto-related conversations. This meant that nearly 4 out of every 100 discussions were about HBAR. However, that figure has now dropped dramatically to just 0.90%.
The weakening market sentiment has led to HBAR being overshadowed by other more dynamic cryptocurrencies. Investors and traders are diverting their attention to projects that are gaining traction, pushing HBAR lower in the rankings of popular coins.
Adding to HBAR's challenges is its weakening macro momentum. Critical technical indicators, such as the Moving Average Convergence Divergence (MACD), are hinting at a looming bearish crossover. This could mark the end of the bullish phase HBAR enjoyed over the past month.
Should a bearish MACD crossover occur, it would likely confirm a downtrend, with HBAR potentially falling below its current support levels. As market sentiment becomes increasingly negative, this correction could strengthen, posing further difficulties for HBAR in regaining investor trust.
Despite an impressive 764% surge in the past month, HBAR's recent 23% price drop highlights its vulnerability to continued downtrends if negative momentum persists. Currently, it is holding above a crucial support level at $0.25.
Unfavorable market conditions could see HBAR breach the $0.25 support, possibly leading to a further decline to $0.18. Losing this support would indicate a bearish shift and suggest additional losses for the altcoin.
Conversely, if HBAR can overcome the resistance at $0.39, the bearish outlook could be overturned. Breaking through this barrier might drive the cryptocurrency past the $0.40 mark again. Such a breakout could revive buying interest and positively shift market sentiment in favor of HBAR.

HBAR Bulls Face Reality Check After 8x Surge: Critical Price Levels

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