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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/hbar-faces-significant-price-movement/" data-wpel-link="internal">HBAR Faces Significant Price Movement</a><br></p>
<p style="text-align: justify">Hedera Hashgraph’s (<strong>HBAR</strong>) price recently experienced a significant movement. In the last 24 hours, HBAR’s price dropped by 5.9%, trading around $0.0708. This decline follows <a href="https://en.coin-turk.com/presidential-candidate-robert-f-kennedy-jr-backs-bitcoin-and-rejects-cbdcs/" data-wpel-link="internal">Bitcoin</a>’s drop below the $60,000 support level, causing fear among cryptocurrency <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. Bitcoin’s fall has negatively impacted the market, putting pressure on altcoins like HBAR.</p> 
<h2 style="text-align: justify" id="new-formation-in-hbar">New Formation in HBAR</h2> 
<p style="text-align: justify">One of the critical technical indicators affecting HBAR is the ‘Death Cross’ formation, where the 50-day simple moving average (SMA) crosses below the 200-day SMA. This crossover is usually seen as a bearish signal, indicating that the asset may continue to face downward pressure.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-367797 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/hbar.png" alt="" width="1564" height="660"></p> 
<p style="text-align: justify">Over the past two months, HBAR’s price has been in a downtrend since reaching its annual high of $0.181 in April, forming a large head and shoulders pattern since November 2023. Such formations are typically considered negative indicators for future price movements.</p> 
<h2 style="text-align: justify" id="critical-price-levels-in-hedera">Critical Price Levels in Hedera</h2> 
<p style="text-align: justify">HBAR’s current price position is very important. If the price falls below $0.068, it could drop by 36% to around $0.045, completing the head and shoulders formation. Conversely, if a bullish trend prevails, HBAR’s price could rise by 65% to approximately $0.121. This potential increase would align with the right shoulder of the head and shoulders formation, likely leading to a consolidation zone between $0.135 and $0.068.</p> 
<p style="text-align: justify">The Relative Strength Index (<strong>RSI</strong>) for HBAR recently entered the oversold territory. This indicates a high selling momentum for a short period before a potential reversal.</p> 
<p style="text-align: justify">The RSI supports the head and shoulders formation, suggesting HBAR may experience another drop before recovering. On its upward path, HBAR may face resistance at $0.091, $0.088, and $0.097, while finding support at $0.063, $0.051, and $0.045.</p> 
<p style="text-align: justify">Despite recent price challenges, HBAR’s fundamentals remain strong. The Hashgraph <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">technology</a> supporting Hedera remains robust and its adoption is increasing. Notably, Sweden’s Riks Bank has tested both Algorand and Hedera Hashgraph for a retail-based Central Bank Digital Currency (<strong>CBDC</strong>).</p> 
<ul class="Summary"> 
 <li>HBAR’s price dropped by 5.9%, trading around $0.0708.</li> 
 <li>The ‘Death Cross’ formation indicates potential further downward pressure.</li> 
 <li>HBAR’s fundamentals remain strong despite recent price challenges.</li> 
</ul> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/hbar-faces-significant-price-movement/" data-wpel-link="internal">HBAR Faces Significant Price Movement</a></h5>

HBAR Faces Significant Price Movement

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