Hedera needs a 40% rally to recover losses in November... Is it feasible?

Source: DigitalToday Original Title: Hedera needs a 40% rally to recover November losses… is it possible? Original Link:

Hedera ( HBAR ) is in a situation where strong momentum is needed to achieve a meaningful rebound while continuing to consolidate. Since the sharp decline in November, Hedera has been stagnant without finding clear upward momentum.

Looking at the funding rates of major exchanges, it is evident that investors are still maintaining a cautious stance. The current negative funding rate suggests that market participants expect further declines and are seeking to profit through short positions. This is a phenomenon that often occurs during long-term sideways markets, indicating that investors have lost confidence in the possibility of a rebound.

However, the funding rate can fluctuate rapidly. When the short position is liquidated, buying pressure may surge, and there is a possibility that Hedera could rebound quickly. However, the current Relative Strength Index (RSI) of Hedera is below 50, indicating a continued bearish trend, and the cautious sentiment in the overall market is limiting the rebound.

There is still a long way to go. Hedera is currently trading at $0.144 and is positioned just below the resistance level of $0.145. For a meaningful rise, it needs to break this resistance level and rise to $0.154. However, if bearish sentiment and uncertain market conditions persist, Hedera is likely to consolidate in the range of $0.154 to $0.130.

To recover the losses in November, HEDERA must rise by about 40% to reach $0.200. For this, breaking through $0.154 is essential, and if it rises to $0.162 afterwards, it may invalidate the downward trend.