Hedera (HBAR) Trading Volume Drops Despite Bullish Indicators and Technical Optimism
Hedera (HBAR) finds itself at a pivotal point this week as conflicting technical indicators paint a complex picture for traders and investors. While some signs point to the possibility of a bullish breakout, a notable 27% drop in trading volume raises questions about the strength of market conviction.
At the time of writing, HBAR’s market cap stands at approximately $7 billion, with trading volume slipping to $104.29 million in the past 24 hours. This sharp decline in activity comes just as several momentum indicators suggest a potential shift in direction.
Momentum Builds, But Trend Weakness Persists
One of the more cautious indicators, the BBTrend (Bollinger Band Trend), currently sits at -3.53. While this marks a slight improvement from yesterday’s recent low of -5, it remains firmly in negative territory—a sign of weak trend strength and low volatility.
A BBTrend below zero typically implies a lack of clear direction in price movement. In Hedera’s case, this suggests a continued phase of consolidation unless buying pressure picks up decisively. If trend strength doesn’t recover, HBAR may remain stuck in a sideways pattern or risk sliding into a deeper correction.
RSI Points to Renewed Buyer Interest
On a more optimistic note, Hedera’s Relative Strength Index (RSI) has risen to 55.70, up from 45 earlier this week. This climb signals growing bullish sentiment, as the RSI typically reflects momentum based on recent price movements.
Although the token is still well below the overbought threshold of 70, this upward trend indicates increased buying pressure and leaves room for further gains. If this momentum continues, HBAR may be poised for a short-term rally before potentially hitting resistance levels.
Eyes on a Potential Golden Cross
Further fueling bullish speculation is the current setup of Hedera’s Exponential Moving Averages (EMAs). The possibility of a golden cross—where a shorter-term EMA crosses above a longer-term EMA—is beginning to emerge. If confirmed, it could signal a medium-term trend reversal in favor of the bulls.
Should this crossover align with continued upward momentum, analysts suggest HBAR could test resistance at $0.178. A successful breakout above this level might clear the path to $0.20, and potentially $0.258—a price point not seen since early March.
However, the path forward isn’t without obstacles. A failure to hold support at $0.153 could lead to a retracement toward $0.124, especially if trading volume continues to decline.