Hedera's Downtrend Remains Intact Despite Recent Price Recovery

Hedera (HBAR) is currently trading at around 0.0786 US-Dollar, which is roughly 68.9 percent below its twelve-month high of 0.2532 US-Dollar.

The price has climbed about 21.7 percent off the twelve-month low of 0.0646 US-Dollar, but the dominant trend over the past year remains a downtrend.

According to technical analysis, the first hurdle for bulls is the 200-day moving average at approximately 0.0920 US-Dollar, while the floor they must defend is the recent low around 0.0646 US-Dollar.

The relative strength index (RSI) is near 68.9, which is close to the 70 threshold traditionally read as overbought, indicating caution for chasing green candles at this point.