Hedera (HBAR) has dropped nearly 20% in the past seven days, but in the last 24 hours, it has rebounded by almost 5%, signaling a potential trend shift. While the broader trend remains bearish, key indicators suggest that buying pressure is increasing, and a reversal could be forming.

If HBAR breaks resistance at $0.219, it could climb toward $0.258 and even $0.287, but failure to sustain upward momentum could see it retesting $0.179 or lower.

HBAR DMI Shows Buyers Are Taking Control

The Average Directional Index (ADX) for HBAR is currently at 27.4, down from 31.4 yesterday, indicating that the downtrend strength is weakening.

ADX measures the strength of a trend on a scale from 0 to 100, with values above 25 typically signaling a strong trend, while anything below 20 suggests a weak or non-trending market.

Despite the decline, ADX remains above the key 25 threshold, meaning HBAR downtrend is still intact but losing momentum.

Meanwhile, the +DI (Directional Indicator) has risen to 20.9 from 11.7, while the -DI has dropped from 30.3 to 20.5. This shift suggests that selling pressure is fading while buying pressure is increasing.

However, with ADX declining and both directional indicators still close to each other, Hedera has not confirmed a trend reversal yet.

The price remains in a downtrend, but if +DI continues rising above -DI, it could signal the beginning of a shift toward bullish momentum.

Hedera Ichimoku Cloud Suggests The Trend Could Shift Soon

The Ichimoku Cloud chart shows that Hedera price has recently moved above the blue Tenkan-Sen (conversion line), a short-term trend indicator.

This suggests that momentum is shifting, but the price remains below the Kijun-Sen (baseline) and inside the cloud’s resistance zone.

The cloud itself is red ahead, signaling that bearish pressure still dominates. Until the price clears this resistance, the trend remains uncertain.

While the recent price action indicates a potential short-term reversal, the Kumo (cloud) remains bearish, suggesting that the overall trend is still downward.

HBAR would need to break above the cloud to confirm a trend shift more strongly. If the price faces rejection here, it could indicate continued weakness, leading to another downward move.

The battle between buyers and sellers at this level will determine whether HBAR can sustain this rebound or resume its broader downtrend.

Will Hedera Get Close To $0.30 Soon?

Hedera’s EMA lines indicate that the trend is still bearish, as short-term EMAs remain below long-term ones. However, the short-term EMAs are starting to turn upward, suggesting that a trend reversal could be forming.

If HBAR breaks the key resistance at $0.219, it could trigger a rally toward $0.258 and even $0.287, representing a potential 40% upside.

On the downside, if the trend fails to reverse, HBAR could continue its decline and test the $0.179 support level.

A break below that would open the door for a drop below $0.17, marking its lowest price since November 2024.

On Tuesday, the US Securities and Exchange Commission (SEC) postponed its decision on multiple altcoin exchange-traded funds (ETFs), including Solana’s.

This development has further dampened investor sentiment toward SOL, which has continued to witness significant spot market outflows.

Solana Investors Exit Amid SEC Delay—$16 Million Pulled Under 24 Hours

In a series of filings made on March 11, the SEC announced its plans to postpone its decision on multiple ETFs tied to major assets, one of which is SOL. According to the regulator, it has “designated a longer period” to review the proposed rule changes that would enable the ETFs to become operational.

This has exacerbated the bearish sentiment toward SOL, which is reflected in the capital outflows from its spot markets over the past 24 hours. As of this writing, $16.43 million has been removed from the market, marking the seventh day of consecutive outflows, which have now exceeded $250 million.

When an asset experiences spot outflows like this, its investors are selling their holdings. This trend reflects a lack of confidence in SOL’s short-term price recovery, with traders choosing to cash in their accrued gains to prevent further losses on investments.

Furthermore, SOL’s Moving Average Convergence Divergence (MACD) indicator, observed on a daily chart, supports this bearish outlook. As of this writing, the coin’s MACD line (blue) is below its signal line (orange). 

An asset’s MACD measures its price trends and momentum shifts and identifies potential buy or sell signals based on the crossing of the MACD line, signal line, and changes in the histogram. 

When the MACD line rests under the signal line, the market is in a bearish trend. This indicates that SOL selloffs exceed buying activity among market participants, hinting at a further value drop.

Solana at Crossroads: Will SOL Hold $126 or Fall to $110?

SOL trades at $126.82 at press time. With waning buying pressure, it risks falling to $110, a low that it last reached in August 2024. 

However, a strong resurgence in buying activity would prevent this. For this to happen, SOL has to establish a strong support flow at $135.22. If successful, it could propel its price to trade at $138.84 and above. 

In an interview with BeInCrypto, Johnny Garcia, Managing Director of Institutional Growth and Capital Markets at VeChain Foundation, addressed the rejection of Bitcoin (BTC) reserve bills. He emphasized that the core issue goes beyond legislative resistance—highlighting the need for greater education for both the public and policymakers. 

His remarks come as five states have already dismissed the legislation. As of now, only 18 states are still considering the possibility of integrating digital assets like Bitcoin into their financial systems.

VeChain’s Executive Weighs In on Bitcoin Reserve Bill Rejections

Garcia pointed out that establishing federal or state Bitcoin reserves could drive innovation by modernizing investment frameworks and enhancing operational capabilities. 

“This would bring all the benefits we in crypto are quite familiar with: transparency, immediate settlement, managing counterparty risks—to name a few,” Garcia told BeInCrypto.

Yet, he acknowledged that skepticism persists. Garcia noted that many are still unconvinced about a Bitcoin reserve’s utility and economic sense. The debate becomes even more complex when considering funding sources. 

“Not every citizen in a given state will agree with their taxes financing crypto purchases—something they could just do themselves,” he commented.

Thus, Garcia emphasized that states would need to focus on educating their citizens about the purpose and objectives of including Bitcoin in their reserve portfolios. He stressed that while regulatory frameworks are crucial, success hinges on demonstrating real-world value beyond speculation.

“The blockchain/DeFi industry needs to step up and show that it can deliver proven solutions that go beyond speculative investment and offer real-world value,” Garcia remarked 

He added that to truly change the minds of political and governmental stakeholders, especially those who are instinctively skeptical of crypto, the solutions must extend beyond financial considerations. The exec emphasized that blockchain technology needs to demonstrate its ability to address a broader range of problems.

Garcia highlighted VeChain as a prime example of how blockchain can tackle both new and ongoing issues. He drew attention to VeChain’s use of blockchain to verify sustainability efforts. Garcia noted that such applications make it harder for lawmakers to ignore the technology’s real-world value beyond finance.

Cryptocurrency Reserve Bill Rejections Don’t Represent a Unified View on Crypto

Meanwhile, Garcia cautioned against viewing the rejections at the state level as blanket opposition to cryptocurrency. 

“I wouldn’t say this necessarily reflects deeply ingrained opposition to the concept of crypto in the form of reserves, stockpile, or just another alternative investment option,” he shared with BeInCrypto.

According to Bitcoin Laws, a total of 33 Bitcoin reserve bills were introduced in 23 states. However, Montana, Wyoming, North Dakota, Mississippi, and Pennsylvania have rejected the legislation that would have allowed state investments in digital assets, including Bitcoin.

Currently, there are 27 active bills in 18 states. Importantly, Utah, which was once at the forefront of the Bitcoin reserve race, recently dropped out on a technicality. The Utah bill is still progressing but without the ‘Bitcoin Reserve’ provisions, which have been removed.

Garcia offered a more nuanced view of the legislative resistance. According to him, although several states have voted against reserve bills, the opposition often comes by small margins.

He encouraged assessing the specific reasons behind the rejections rather than generalizing. Gracia also welcomed that states are taking the time to consider the issue carefully.

As states navigate their own approaches to cryptocurrency, momentum is growing at the national level. Senator Lummis has reintroduced the BITCOIN Act. This came shortly after former President Trump signed an executive order to create a strategic Bitcoin reserve funded with seized Bitcoins.

Originally introduced in July 2024, Lummis’ BITCOIN Act failed to pass out of Committee in the Senate.

“I am proud to reintroduce landmark legislation that will codify President Trump’s bold vision to establish the United States Strategic Bitcoin Reserve and strengthening our nation’s economic foundation for generations to come,” Lummis wrote on X.

The bill aims to create a US Strategic Bitcoin Reserve, backed by up to 1 million BTC acquired over five years. Moreover, the holdings would be maintained for at least 20 years.