According to price charts, Hedera Hashgraph (HBAR) has entered a downward path again, showing fresh signs of continuing this trend. After months of an upward trend, HBAR has formed a Death Cross pattern for the first time in the past 11 months, ringing the alarm bells for investors. This pattern usually signals the end of an upward trend. Despite attempts to recover from a 27% price correction at the end of March, new capital inflow weaknesses have made continuing the upward trend difficult. The Chaikin Money Flow (CMF) indicator, which indicates cash inflow or outflow into the market, shows a decreased investor interest in this asset. Currently, HBAR is priced around $0.16 and has dropped approximately 6% in the past 24 hours. If HBAR fails to surpass the $0.17 resistance, further decline to levels of $0.15 or lower is possible. The only hope for a return to the upward trend is stabilizing the price above the $0.17 resistance. If HBAR can turn this level into support and then reach above $0.19, the corrective phase may end, paving the way for reaching $0.20 again. Overall, as long as trading volume weakness and investor doubts persist, the short-term outlook for HBAR will remain bearish.
