Hedera Faces Key Resistance, Signaling Potential Downward Trend?

While Hedera’s recent price surge has captured attention, examining the broader market context reveals a potentially bearish pattern. The current price action mirrors past setups that resulted in significant drops. Though it shows short-term bullish movement, continued downtrend on longer timeframes, and a confluence of technical signals suggests caution is warranted. 0.618 Fibonacci level – a crucial point for Hedera’s recent rally – coincides with previous macro lower highs. Volume levels remain low, failing to support a sustained break above this resistance. With no daily candle closures above the key resistance, it signifies a valid rejection zone.