Despite a hesitant start to the week, Hedera (HBAR) is showing signs of a potential rebound. However, a well-known technical barrier is still hindering its takeoff. Technical analysis, volume, and resistances indicate why the upward momentum is being closely monitored.
Futures traders have gradually repositioned themselves bullish on HBAR, as evidenced by the rising funding rates. Since early June, most candles have been green, indicating that long positions are funding short positions. This is a classic sign of returning bullish sentiment. However, we’re still far from the euphoria characteristic of sustained accumulation phases.
Additionally, the Chaikin Money Flow (CMF), which measures volume-weighted buying and selling pressure, has crossed above the zero line. This is the first time in nearly two months. Although this reading remains marginal for now, it adds to the other positive technical signals, reinforcing the potential for recovery.
While the outlook on prices and derivatives improves, development activity on the Hedera network remains a concern. According to Santiment data, development contributions have experienced a slow but steady decline since March. They have reached levels close to their six-month lows. This stagnation raises questions about the vitality and evolution of the Hedera ecosystem.
HBAR is currently trading just below a major technical resistance at $0.162, a level tested three times last week without success. A clean break above this threshold would pave the way for a test of the next targets at $0.178 and then $0.217. However, rejection at this stage could push the price back toward support at $0.143. This is especially likely if development activity doesn’t show tangible signs of improvement.
What strengthens the bullish scenario is the classic bullish divergence observed on the Relative Strength Index (RSI). While the price has remained generally stable or slightly bearish since mid-June, the RSI has marked higher lows. This signals a potential upward reversal.
Hedera Hashgraph’s HBAR is finally showing encouraging signs from a technical perspective, with a more favorable derivatives context and re-emerging buyer flow indicators. However, the project’s fundamentals remain concerning, with development activity struggling to convince. Crypto investors should remain vigilant about this still-fragile recovery. It could easily lose momentum if the engineering teams fail to restore sustainable momentum to the ecosystem.
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