Hedera’s Price Plunge: Will Buyers Ever Regain Control? 🤔💸

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In the dusty corners of the crypto market, Hedera (HBAR) has found itself languishing below the $0.20 threshold for a week now. The relentless downtrend has cast a shadow over the token, as if the market itself were holding its breath, waiting for a sign of life.

Recent whispers from the DMI and Ichimoku Cloud reveal a growing sense of bearishness, as sellers begin to flex their muscles. The burning question remains: can HBAR cling to its last bastion of support, or is a deeper plunge inevitable? 🤷‍♂️

Hedera DMI: Buyers Still in the Game, But Sellers Are Gaining Ground

The Hedera ADX, that fickle measure of trend strength, currently sits at 16.15, a slight rise from yesterday’s 11.5. Earlier today, it flirted with 17.16, teasing us with the promise of momentum. But let’s not get too excited; it’s like watching paint dry. 🎨

Meanwhile, the +DI line, which tracks the hopeful buyers, has slipped from 26.95 to 20.27, hinting that the buying enthusiasm is waning. On the other hand, the -DI line, representing the sellers, has climbed from 13.97 to 16.65, suggesting that the bears are sharpening their claws. 🐻

The ADX, that ever-watchful guardian of trend strength, tells us that a reading below 20 indicates a weak trend. With Hedera still below that mark, the trend remains as soft as a marshmallow. But the recent uptick could be a glimmer of hope, or just a cruel joke. 😅

Despite the trend’s frailty, this pattern suggests that HBAR may continue its downward spiral unless the buyers muster enough strength to overpower the sellers.

HBAR Ichimoku Cloud: A Bearish Setup After Resistance Stands Tall

The Ichimoku Cloud chart for Hedera reveals a price still struggling beneath the Kumo (cloud), reinforcing the prevailing bearish sentiment. It’s like trying to swim upstream in a river of molasses.

Currently, the price hovers just below both the Tenkan-sen (conversion line) and the Kijun-sen (base line), indicating a distinct lack of bullish momentum. The cloud ahead is thick and red, a warning sign that resistance is strong. Until HBAR can break free from this oppressive cloud, the bearish bias is likely to linger like an unwelcome guest. 🚪

The Ichimoku Cloud system offers a panoramic view of support, resistance, trend direction, and momentum. With HBAR trapped below the cloud, it’s firmly in a downtrend. The Tenkan-sen and Kijun-sen lines are close together, whispering sweet nothings of a weak trend and potential consolidation.

As long as the price remains below both lines, and the cloud looms above like a dark cloud on a sunny day, HBAR is likely to remain under pressure unless buying volume surges enough to push it back into the light. 🌤️

Can Hedera Plunge Below $0.17 Soon?

Currently, Hedera’s price is caught in a tight squeeze, wedged between a resistance level at $0.195 and a key support level at $0.184. It’s like watching a game of tug-of-war, and the rope is fraying.

If the $0.184 support is tested and fails to hold, HBAR could tumble down to the next significant support at $0.178 faster than you can say “crypto crash.” A breach of that level could open the floodgates, sending the price spiraling below $0.17. 😱

However, should HBAR manage to reverse this downtrend, the first hurdle will be the $0.195 resistance—an area it attempted to breach

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2025-03-21 04:51