After consistently reaching new highs in December, the price of Hedera (HBAR) has decreased by more than 4% in the past 24 hours.

Although some indicators suggest that this correction may soon end, the appearance of the 'death cross' threatens to deepen the decline.

HBAR is still adjusting

The DMI chart of Hedera shows that the ADX index is currently at 18.2, indicating weak trend strength. The +DI (positive directional indicator) is at 18.8, while the -DI (negative directional indicator) is slightly higher at 19.3, suggesting that bearish momentum is still slightly prevailing.

This setup confirms that HBAR is still in the process of adjusting. However, the low ADX indicates that this trend has not been strongly established, opening up the possibility that the market may change direction.

DMI chart of Hedera | Source: TradingView

The ADX (Average Directional Index) measures the strength of a trend on a scale from 0 to 100, regardless of direction. Values above 25 indicate a strong trend, while values below 20, like HBAR's current level of 18.2, suggest weak trend strength or no trend. The close distance between +DI and -DI indicates that both buyers and sellers do not hold control.

In the short term, the price of HBAR may continue to fluctuate within a narrow range or be less volatile, unless one side gains a clear advantage, accompanied by an increase in ADX to confirm stronger trend momentum.

Ichimoku Cloud suggests further decline

The Ichimoku Cloud chart of Hedera indicates a bearish setup, with the price below the cloud. The red color of the cloud, created by Senkou Span A and Senkou Span B, reflects bearish momentum as Senkou Span A remains below Senkou Span B. This configuration suggests that selling pressure continues to exist in the market, keeping HBAR under bearish influence.

Additionally, the Tenkan-sen line (conversion line, purple) is below the Kijun-sen line (base line, orange), reinforcing bearish sentiment as short-term momentum lags behind long-term trends.

Ichimoku Cloud chart of Hedera | Source: TradingView

The Chikou Span line (lagging line, green) is also below the price action and the cloud, further confirming the dominance of bearish conditions. Overall, the Ichimoku Cloud setup suggests that HBAR is likely to maintain a downtrend unless it breaks through the cloud, signaling a potential reversal.

HBAR price forecast: Does Hedera have a further decline of 13.7%?

If HBAR's short-term downtrend continues and intensifies, the price may decline further to test support at $0.233. This could happen if the short-term MA (red line) crosses below the long-term MA (light blue line), forming a 'death cross'. Failing to hold this support level may signal increased bearish momentum, pushing the price lower.

Conversely, if the trend reverses and the short-term line crosses above the long-term line, the price of HBAR may attempt to recover.

HBAR/USDT chart on the 4-hour timeframe | Source: TradingView

In this case, the price may test resistance at $0.31, and if it breaks through this level, it may move towards the $0.33 mark. Such a bullish reversal would signal new buying interest and potential momentum for continued growth.

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