Hedera (HBAR) has experienced a 5% drop in the past 24 hours, resulting in a 22% correction over the last 30 days, bringing its market cap to $8.5 billion. Although technical indicators indicate a prevailing bearish momentum, signs of a potential shift are beginning to emerge.

The ADX for HBAR currently sits at 23, down from 28.9 three days ago, suggesting a weakening strength in the downtrend. While the Ichimoku Cloud still confirms seller control, there are indications that bearish pressure is easing.

The ongoing downtrend, while still present, is losing intensity with HBAR's ADX at 23. This suggests a possible shift towards consolidation rather than further downside acceleration, pending stronger buying pressure from HBAR to confirm a trend reversal.

On the Ichimoku Cloud chart, a bearish setup is evident as the price action remains below the cloud. Despite the red cloud signaling bearish dominance, potential changes may be on the horizon as the market structure favors sellers unless HBAR buyers intervene with increased momentum.

The short-term Hedera EMA lines continue to trail below the long-term ones, reinforcing the bearish scenario. A further strengthening of the bearish trend could lead to a potential test of support at $0.179, a 19% decrease from current levels.

However, if HBAR manages to reverse this trend and gather bullish momentum, it may challenge the resistance at $0.248, potentially paving the way for a recovery towards $0.32, representing a 46% upside. Buyers will need to sustain momentum above key resistance zones to confirm a shift in trend towards a more positive outlook for HBAR.