HBAR has skyrocketed 30% over the past week, reaching its weekly high of $0.200. The rally is a welcome development for investors and marks a major rebound after a long downtrend.
However, despite promising price increases, maintaining this momentum can be challenging due to certain technical factors.
Hbar Death Cross is coming to its end
The moving average of the index (EMA) indicates a sign of a shift. The 50-day EMA is beginning to move upwards, a positive sign of HBAR.
As prices continue to rise, a 50-day EMA could cross beyond the 200-day EMA, marking the end of a six-week Death Cross. This is a big bullish signal, potentially leading to a golden cross, and could continue to raise HBAR prices upwards.
However, for a 50-day EMA to surpass the 200-day EMA, the price must maintain an upward trajectory.
Failure to secure current price levels could prevent Altcoin from making a significant profit in the end, without breaking the cross of death.
Although HBAR prices have seen a healthy rise, the Relative Strength Index (RSI) is currently purchasing too much above the 70.0 threshold.
Historically, when HBAR’s RSI entered an over-acquired zone, cryptocurrencies faced a fall in prices and profits were quickly wiped out. The terms of the acquisition raise concerns about potential price corrections, particularly given the rapid pace of recent rises.
As history repeats itself, this week’s impressive 30% meeting of HBAR could face a major drawback.
A signal of over-purchase is a warning sign that prices could lose current momentum, especially if investors start to make a profit or take the market situation.
HBAR prices recovery is strong
HBAR rose 30% to $0.200 last week. This is the first time in more than a month that Altcoin has recouped this price as support. Recent rally has brought HBAR to a significant $0.205 resistance level.
Despite the rally, HBAR could face difficulties above the $0.205 resistance level if the terms of buy are persistent.
Price refusal at this level can cause a pullback, allowing a potential drop to return to $0.180 or $0.154. Such a decline would erase recent profits and slow Altcoin’s upward movement further.
However, if the broader market remains bullish, HBAR can succeed in supporting a $0.205 resistance. This allows Altcoin to continue rising, potentially reaching over $0.220, disabling bearish scenarios.
Ability to exceed key support levels is important in determining whether HBAR can maintain upward momentum.
The Post-HBAR price will regain $0.20, but there is a risk that the terms of the acquisition were first manifested in Beincrypto.
