Hedera (HBAR) has been struggling to gather momentum following a 27% drop at the end of March. The current price action of HBAR is now indicating concerning signs, including the emergence of a death cross for the first time in 11 months, hinting at a potential worsening of the situation.

The formation of a death cross is a crucial technical signal for HBAR. The 200-day exponential moving average (EMA) has recently crossed below the 50-day EMA after a five-month bullish run, pointing towards a bearish trend.

This comes at a time when HBAR has been unable to recover from the setback in March. The presence of a death cross often suggests further downside risks. With diminishing momentum and growing market uncertainty, HBAR could encounter more hurdles ahead.

Examining the overall market sentiment, the Chaikin Money Flow (CMF) indicator remains below the zero line, indicating weak inflows into HBAR and overall low investor confidence. The reluctance in pushing HBAR's price up may lead to consolidation or further downturns without positive catalysts.

Currently, HBAR is trading at $0.16, down by 6% over the last 24 hours. The altcoin is striving to recover from losses in late March by aiming to surpass the $0.19 resistance level. However, if market sentiment stays bearish, HBAR might struggle to overcome these barriers.

In case of prolonged bearish conditions, HBAR could experience a drop below the $0.16 support level, potentially reaching $0.15. This scenario might erase part of the recent gains and push the price lower. Uncertainty in the market could intensify downward pressure on HBAR, adding to its challenges.

One way to invalidate the bearish outlook for HBAR is to convert the $0.17 resistance level into support. A sustained breakthrough above $0.19 would indicate restored confidence and could propel HBAR towards the $0.20 mark, possibly breaking free from the bearish trend and aiming for a sustained recovery.