Hedera ( HBAR ) signals recovery after a correction: Is a rise to the sky coming soon?

All efforts to reverse the downtrend have not yet yielded results. Nevertheless, the market remains resilient, as the influx of capital has risen to the sky, revealing new signs of optimism from investors.

Hedera receives support from investors

The Chaikin Money Flow index (CMF) has just recorded a strong breakout, reflecting significant capital inflow into Hedera (HBAR). This rise has peaked in the past two months, demonstrating increasing interest from investors, even as the overall market continues to experience significant fluctuations.

This move shows confidence in Hedera's recovery potential, as investors seize the opportunity to buy in during a weak price phase, aiming for profits if this cryptocurrency surpasses key resistance levels. This new influx of capital could become a crucial leverage for an upcoming reversal.

The Chaikin Money Flow index (CMF) of HBAR | Source: TradingViewTechnically, the relative strength index (RSI) of Hedera is currently maintaining above the neutral threshold of 50, indicating that the upward momentum is still intact. Although the price has gone through some recent falls, the RSI's stability in the positive zone continues to spark hope for the recovery of this altcoin.

The persistent strength in the RSI reflects a positive macro context, providing Hedera with a potential advantage to counter short-term downward pressure, and opening up opportunities for the next rising trend.

The RSI index of HBAR | Source: TradingView## The price of HBAR failed to break through

At the moment, Hedera is trading around 0.237 USD, facing a resistance level of 0.241 USD. This cryptocurrency has undergone a two-month long decline, starting when it failed to break through the 0.248 USD level in early summer.

Daily chart of HBAR/USDT | Source: TradingViewHowever, the current capital flow along with positive technical indicators suggests that HBAR is likely to recover from the support level of 0.230 USD. If demand remains strong, the price may challenge the levels of 0.241 USD and even 0.248 USD. A successful breakout of this level will officially mark the end of the 下行 trend.

On the contrary, if market sentiment turns negative, Hedera may lose its upward momentum. A break below 0.230 USD would open up the risk of a deep fall to 0.219 USD, completely undermining bullish prospects and potentially prolonging the current 下行 trend.

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