Hbar has experienced a notable increase in recent days, showing signs of recovery after the significant losses recorded in March. If this momentum continues, cryptocurrency could soon make a return, which could potentially push its higher price.
The positive Hbar movement in April gives the hope that this could avoid repeating the past models of net drops, offering a chance of sustained growth in the coming weeks.
Hedera observes a strong bullish dynamic
The relative resistance index (RSI) for Hbar is currently higher than the neutral brand at 50.0, which indicates a positive feeling on the market. This is generally considered to be a bullish signal. However, historical cases show that Hbar has experienced corrections following a strong increase in the RSI, driven by volatile price movements.
This time, however, market volatility seems to be much lower, which suggests that the current bullish momentum for Hbar is more organic. If the RSI remains stable in the positive area, it could point out a more durable rally for cryptocurrency.
Hbar’s performances also seem closely linked to the action of Bitcoin prices, with a high correlation of 0.93 between the two. While Bitcoin continues to increase, currently approaching $ 95,000, Hbar should follow suit.
Given the strong position of the Bitcoin market, any other gain for the main cryptocurrency will probably spread in altcoins like Hbar. If Bitcoin continues its bullish path, pushing past key resistance, Hbar could see similar gains, powered by the overall market optimism and the positive influence of BTC.
Hbar Price approaches key resistance
Throughout the month of April, Hbar has maintained an upward trend, which is crucial for its resumption of 43% of the losses observed in March. Price action in April will be a central factor for Hbar while trying to resume the lost ground. Maintaining this ascending trajectory is essential for Altcoin to recover and rely on its current momentum.
Trading currently at $ 0.183, Hbar aims to break the level of key resistance of $ 0.200. This level represents a psychological barrier for investors, and successfully overthrow it in support could trigger new bullish reactions. If this happens, Hbar could see an increase at $ 0.222 because investors’ confidence is strengthening and more participants in the market are entering space.
However, if Hbar fails to rape the bar of $ 0,200, it could cope with a drop at $ 0.167. If this happens, the sale of investor pressure that seeks to minimize losses could push the price to $ 0.154. Such a decline would invalidate the short -term upper prospects, potentially resulting in greater losses if the feeling of the market becomes a drop.
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