Hedera's (HBAR) value has been on the rise in recent weeks, aiming to recover previous losses. Over the past six weeks, the price of HBAR has been steadily increasing, with traders hopeful for this positive trend to continue.

The recent surge in price has set a two-month record for the token, demonstrating optimistic market sentiments and expectations of a further uptrend.

Traders in the Futures market are showing strong optimism as the funding rate for HBAR has hit a five-month peak. Long positions are outweighing short positions, indicating a belief among traders that the price will keep rising.

The prevalence of long contracts signals growing confidence in the future performance of HBAR. Positive technical indicators, such as the Chaikin Money Flow (CMF) showing a significant increase, also support the macro momentum of HBAR.

Investors are pouring capital into HBAR, as shown by the uptick in the CMF, strengthening the upward momentum and laying a solid foundation for sustained growth.

Today, HBAR's price has dipped by 6% following a 24% increase earlier in the week, currently trading at $0.204. The altcoin is maintaining its position above the critical support level of $0.200 and is currently challenging a resistance level at $0.222. Successful overcoming of this barrier could propel HBAR further upwards, leading to more price gains.

A crucial milestone for HBAR lies in turning $0.222 into a support level. Achieving this would pave the way for HBAR to target $0.250, consolidating recent gains and boosting the recovery momentum.

Breaking through the $0.222 resistance would indicate sustained bullish momentum, potentially piquing greater investor interest in the asset. Conversely, failure to breach this resistance could see HBAR drop below the $0.200 support level, risking a descent to $0.182 and dampening the current bullish outlook.