HBAR Price Analysis: Can Bulls Revert the Trend?

Hedera’s HBAR token is currently facing downward pressure, declining by 9.76% in the past 24 hours and reaching a critical support level near $0.16. While recent sell-offs pose challenges, technical indicators suggest potential reversal. The Relative Strength Index (RSI) displays bullish divergence, indicating weakening momentum despite price drops. Additionally, the Chaikin Money Flow (CMF) remains positive at 0.18, reflecting persistent investor interest even during corrections. A significant portion of large HBAR wallets continues to accumulate the token, increasing the potential for a reversal if buying pressure strengthens.