Hbar recorded a 7% drop in last week, underperforming the wider cryptography market, which showed signs of light recovery.
A more in -depth examination of techniques painted a dark image, with key indicators suggesting that the sale can continue in the short term.
Hbar Bulls is back while sellers gain ground
An assessment of the graph of a day Hbar / USD shows that the relative force index of the token (RSI) remains below the neutral level 50 and continuously decreasing trend. To date, this momentum indicator is 43.38.
The relative resistance index (RSI) is a momentum indicator used to assess whether an asset is exaggerated or occurred. It works on a scale of 0 to 100, with readings above 70 generally signaling excessive conditions and a potential prices correction. On the other hand, the values less than 30 suggest that the assets are occurring and can be ready for a rebound.
Hbar’s RSI reading signals push a lower momentum. Its weakening value suggests that the sales pressure is intensifying, which reduces the probability of a short -term rebound.
The indicator of the balance of Hbar’s powers (BOP), which currently returns a negative value of -0.27 at the time of the press, also reinforces the downward perspective.
This indicator measures the strength of buyers compared to sellers by analyzing the price movement in a given period. When the BOP of an asset is negative, this indicates that the sellers dominate the market. This increases the probability of continuous decrease pressure on the price of short -term Hbar.
Hbar faces downward pressure
The decline of Hbar in recent days has exchanged it below a descending trend line. This is a lower motif formed when an asset systematically achieves lower peaks as long, and these summits can be connected by a straight line downwards.
The longer the trend line, the greater the indication that the asset is in a sustained drop trend. This model reflects a lowered market feeling, where Hbar sellers gradually dominate buyers.
If this continues, it could push the price of Hbar to $ 0.12.
However, a rally above the downward trend line could propel the price of the Hbar token at $ 0.19.
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