Will the price of HBAR be able to break out after stabilizing at the support level?

HBAR of Hedera has shown remarkable resilience despite continuously facing strong market plummets and unsuccessful bounce back attempts. This altcoin still maintains its position on the important support zone, holding the confidence of investors even as market sentiment leans toward a downtrend. However, the question is how long HBAR can maintain this stability.

Hedera needs stronger support from the market

The Chaikin Money Flow indicator (CMF) currently shows that HBAR is in a down zone, maintaining below the negative level, reflecting that the outflow trend still dominates. Although some signs of a slight bounce back have appeared recently, the inflow is still not enough to reverse the current trend, indicating that the sellers still control most of the market.

As long as the inflow of capital does not consistently exceed the outflow of capital, the price of HBAR will continue to be under pressure. Although the gradual increase in inflow indicates that investor interest is slowly returning, the demand is still not strong enough to create a significant change in price.

The CMF indicator of HBAR | Source: TradingViewThe RSI index also reinforces this negative outlook as it remains below the neutral threshold of 50.0, signaling that market conditions are not favorable for a recovery cycle.

The lack of growth momentum reflects the overall weakness of the market as well as the caution of investors in returning to buying positions. This downward pressure continues to be a significant challenge for the price movement of HBAR. Without support from the overall market, any recovery may only be temporary or limited in scale. For HBAR to regain its growth momentum, the RSI index needs to approach the neutral zone.

HBAR RSI Index | Source: TradingView## HBAR price may continue to move sideways in the short term.

Currently, HBAR is trading around $0.174, just below the resistance level of $0.175. Despite facing significant volatility, this token remains solidly above the important support zone of $0.162, demonstrating resilience against downward pressure.

This support zone has played a key role in the past month, preventing the risk of a deep fall to $0.154. Even in the context of a market with many uncertainties, HBAR is likely to continue accumulating in this price zone, establishing a stable foundation for a potential bounce back in the future.

HBAR Price Analysis | Source: TradingViewIf the overall market conditions improve and the inflow of capital grows stronger, HBAR could completely convert the resistance level of $0.175 into support. At that point, a price increase towards the level of $0.194 could be triggered, opening up the opportunity to challenge the $0.200 mark and completely reverse the current bearish thesis.

Mr. Giáo