The HBAR token saw a death cross on its daily chart on April 14, indicating a possible downside. Despite this bearish signal, the token has surprised by surging 20% in the last two weeks amidst a broader market recovery.

Although the bullish momentum has slowed down recently, the bulls are still dominating the market. If demand continues to increase, HBAR might see further price increases.

A death cross happens when a short-term moving average, like the 50-day one, crosses below a long-term moving average, such as the 200-day. This indicates a weakening price momentum and a potential long-term downtrend.

Despite the negative implications usually associated with a death cross, in volatile or recovering markets like the current one, traditional technical signals can be defied. For example, HBAR's value has jumped by 20% recently.

Furthermore, the bullish momentum has slightly decreased in the past few trading sessions; however, bulls are still holding firm control. The Moving Average Convergence Divergence (MACD) indicator for HBAR supports this view, with the MACD line above the signal line signifying ongoing buying pressure.

Over the past days, HBAR has been following an upward trendline, showing a positive sign when an asset continuously forms higher lows, demonstrating increasing investor confidence and sustained upward movement.

If the trendline holds, HBAR could break through the $0.19 resistance and target $0.23. On the other hand, if selling pressure returns, the token's price might drop to $0.15.