HBAR Price Needs to Hold $0.1024 Support Amid Mixed Technical Setup
The price of HBAR, which has been closely tied to the Hedera network's adoption narrative, has given back some of its gains from late September. The token rose by 27.32% on September 28, but fell by 16.09% the following day as sellers reversed most of the move.
The rally was fueled by reports that an identity platform built on Hedera had reached IBM Cloud. This news added to the network's enterprise-adoption narrative and helped drive up the price of HBAR.
Despite giving back some of its gains, HBAR still maintains a positive short-term momentum reading. The daily RSI (14) stands at 59.4, which is considered bullish but not overbought. The MACD reading also remains positive, with the daily MACD above its signal line.
However, the longer-term moving-average structure remains bearish, with a 'death cross' formation between the 50-day and 200-day SMAs. This mixed technical setup makes it difficult to predict whether HBAR will continue to recover or break down further.