Hedera is anticipating a period of stable price action as December begins. However, periods of quiet trading often precede significant market movements.
After trading within a range of $0.122 to $0.15 for most of November, the HBAR price chart is showing early indications of a potential shift in momentum, even though the broader market has not yet fully reacted.
HBAR Maintains Key Support Zone
On the 4-hour chart, the HBAR price continues to hold the $0.122 level, which served as the low point in November. Each attempt by the price to fall below this level has been met with immediate buying pressure.
The most recent bounce has pushed the HBAR price back towards the mid-$0.14 range, confirming the strength of this support. This resilience is significant.
When a price level consistently holds during a market downturn, it suggests that selling pressure is weakening and a base is forming. HBAR appears to be establishing such a base, which historically precedes more substantial price increases.
Improving Momentum Indicators for HBAR
Momentum indicators are also showing signs of improvement. The Relative Strength Index (RSI) has stabilized around the mid-50s, indicating that the market is neither oversold nor caught in a strong downtrend, but rather in a neutral yet strengthening position.
The Moving Average Convergence Divergence (MACD) is also gradually recovering. While it has not yet turned definitively bullish, the negative momentum is diminishing. Historically, the HBAR price has often seen significant movement shortly after the MACD resets in this manner, particularly when occurring near strong support levels.
Increasing Open Interest Suggests Trader Re-engagement
Open interest, relative to market capitalization, is showing an upward trend again after a decline earlier in the month. This typically signifies that traders are reopening positions following a market pullback. While not indicative of a surge in liquidity, it suggests that December may not remain a quiet trading month.
Currently, the balance between long and short positions is nearly even, which often implies that the market is awaiting a catalyst. When both sides anticipate a price move but differ on the direction, increased volatility often follows.
Potential Price Movements for HBAR in December
Should the HBAR price remain above $0.14, an upward movement towards the $0.155–$0.16 resistance area appears probable in early December.
This resistance zone has previously capped price increases multiple times, but a decisive breakout could pave the way for a move to $0.175, a level not reached since October. If Bitcoin experiences a bullish trend this month, HBAR could potentially reach $0.18 before the end of December.
Conversely, if Hedera's price falls below $0.135, the HBAR price would likely retest the $0.122 support level. As long as this support level holds, the overall trend remains positive.
The current HBAR chart may not display significant volatility, but quiescent charts often experience the most rapid movements when market conditions change. With support holding firm, indicators improving, and traders slowly returning, December presents an opportunity for recovery, provided the $0.14 level is maintained.