Cryptocurrency Hedera (HBAR) is approaching a key accumulation zone near $0.093, a level analysts say signals strong buyer interest and potential support. Technical analysis indicates the token has reclaimed its 20 and 50-day exponential moving averages, with momentum indicators like the MACD showing a bullish crossover. Sustained buying pressure at this support could pave the way for a move toward the $0.40 level, though it must first overcome significant resistance at the 200-day moving average near $0.096.
Hedera (HBAR) is nearing a crucial accumulation level around $0.093, where significant trading activity has historically occurred. According to crypto analyst Crypto Pulse, this concentration of volume suggests strong buyer interest, creating potential support.
If this zone is sustained, it might serve as a basis for an upward swing toward $0.40. Traders are keenly observing this accumulation level for early signs before positioning for a possible rally.
Hedera is experiencing a resurgence after a recent low, having risen above its 20 and 50-day exponential moving averages (EMAs). The asset still faces stubborn resistance at the 200-day EMA, which is trading at $0.0961.
The Bollinger Bands are tightening, indicating reduced volatility and a consolidation phase. A strong close above the 100-day EMA at $0.0945 would strengthen the bull case, while a failure to hold support at $0.0925 could lead to a retest of recent lows.
The Relative Strength Index (RSI) currently sits at 55.22, rising steadily and comfortably above the neutral 50 mark. This indicates a strong increase in buyer confidence since a sharp recovery from oversold territory on March 23.
In line with this, the Moving Average Convergence Divergence (MACD) shows a clear bullish crossover. The histogram now turns to positive green, indicating a change in the momentum, suggesting recent selling pressure may be subsiding.
