Hedera's Price Must Hold Key Support After Rally Reversal

Hedera's (HBAR) price has given back most of its September rally after surging 27.32% on September 28 to an intraday high near $0.1310, before falling 16.09% the following day.

The sharp advance was tied to reports that an identity platform built on Hedera had reached IBM Cloud, adding force to the network's enterprise-adoption narrative.

Despite the reversal, short-term momentum readings remain constructive, with a daily RSI (14) of 59.4 and a MACD reading above its signal line.

The long-term SMA relationship remains bearish, however, while the original rally was quickly reversed without another Hedera announcement.