HBAR has been on a consistent upward trend lately, witnessing a significant price surge. Nevertheless, the altcoin is currently facing challenges in maintaining the important psychological support level at $0.20.

Although traders are optimistic about a potential breakout, there are increasing worries about its ability to sustain its current upward momentum.

Traders in the HBAR market appear bullish as indicated by the rising funding rate, suggesting an expectation of further price hikes. This surge in funding rate indicates a prevalence of long contracts in the market, with traders placing bets on the altcoin's appreciation.

The optimistic market sentiment could drive HBAR's price higher, particularly if buying pressure continues to surpass selling activity. However, despite the prevailing positivity, the struggle to hold $0.20 as a support level poses a concern.

Analyzing broader indicators such as the MACD reveals signs of a weakening bullish trend. With the MACD approaching a bearish crossover, the end of HBAR's month-long uptrend seems likely.

A bearish crossover typically implies a decrease in buying pressure, potentially leading to a downward price trend. If this pattern persists, HBAR may encounter challenges in attracting buyers, increasing the likelihood of a market correction.

The conflicting signals from strong trader support and ambiguous technical indicators have created uncertainties regarding HBAR's future performance.

Although the altcoin has managed to remain in positive territory in recent weeks, a loss of momentum could impede its price growth, especially near critical resistance levels.

As of now, HBAR's price has dropped by 6% in the last 24 hours and is currently trading below the crucial $0.20 mark.

Despite this short-term decline, the altcoin has maintained an upward trend for seven weeks. However, the failure to establish $0.20 as a robust support level could hinder its future progress.

Should HBAR struggle to stabilize above this price level, the focus would shift to the resistance at $0.22 – a pivotal point for surpassing the current consolidation phase. Nevertheless, conflicting market signals might prolong sideways movement, with $0.18 emerging as a crucial support level.

A downtrend could ensue if HBAR falls below the $0.18 support, indicating a weakening bullish trend and potentially leading to a price drop to $0.16. In such a scenario, the uptrend would be invalidated, resulting in considerable losses for investors.