Hedera (HBAR) price has experienced significant volatility, plummeting to $0.072 earlier this month before recovering to approximately $0.17, marking a 76% increase from the yearly low. This rebound mirrors broader market movements, with Bitcoin and altcoins like Ethereum, Solana, Cardano, and Sui also rallying on optimism around potential Federal Reserve interest rate cuts and upcoming US-China diplomatic meetings.
The recovery remains fragile, with critical support levels at $0.15–$0.16. If HBAR holds above this zone, it could target resistance at $0.20, and a breakout with strong volume might push prices toward $0.24, the level before the sharp decline. However, technical indicators present a mixed outlook: the RSI is at 55, indicating moderate buying pressure, and the MACD has turned positive, suggesting potential momentum. Open interest stands at $219 million, with short positions outweighing longs, raising the possibility of a short squeeze if prices continue climbing.
On the daily chart, a death cross pattern has formed, where the 50-day exponential moving average crosses below the 200-day, signaling bearish control. The price remains below the Supertrend indicator, and resistance at $0.2063 is a key level to watch. Failure to break above this could lead to a retest of $0.15 or lower, while success would invalidate the bearish outlook.
Despite the price surge, Hedera's ecosystem faces headwinds, with its DeFi total value locked (TVL) dropping over 23% in 30 days to $183 million and stablecoin market cap at just $103 million, highlighting challenges in gaining market share.
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