The price of Hedera (HBAR) has experienced a significant decline over the past week, dropping below key support levels. The broader market decline and weak demand for HBAR have contributed to a 24% dip in its price, with further downside expected in the short term. HBAR's price has broken below the Ichimoku Cloud, indicating a downtrend and establishing strong resistance above. It has also fallen below its 20-day exponential moving average, confirming a bearish outlook. Additionally, the Relative Strength Index (RSI) suggests high selling pressure but not yet oversold conditions, potentially signaling weak buying momentum. If selling pressure continues, HBAR may fall further to $0.16, but a rebound could occur if the RSI drops below 30. A surge in demand could drive the price to $0.28, with a successful break above that level potentially pushing it to $0.40.



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