HBAR Price Continues To Survive, Holds Above Month-Long Support
Hedera’s HBAR remains resilient above critical support levels, but weak inflows and bearish momentum suggest continued consolidation until investor participation strengthens.
Hedera’s native token, HBAR, has shown remarkable resilience despite enduring repeated market crashes and failed recovery attempts.
The altcoin continues to hold above a key support level, maintaining investor confidence even as bearish market sentiment persists. However, questions remain about how long HBAR can sustain this stability.
Hedera Needs Stronger Market Support
The Chaikin Money Flow (CMF) indicator shows HBAR sitting in the bearish zone below the zero line, reflecting ongoing outflows. Although there has been a modest uptick recently, inflows are still insufficient to reverse the trend. This suggests that sellers maintain control of the market.
Until consistent inflows surpass outflows, the HBAR price will likely remain under pressure. The gradual increase in inflows indicates that investor interest is slowly returning, but it is not yet strong enough to dictate price direction.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter
HBAR CMF. Source:
HBAR CMF. Source:
The Relative Strength Index (RSI) reinforces this bearish sentiment. Currently positioned below the neutral 50.0 mark, the RSI signals that market conditions are not favorable for recovery.
The lack of upward momentum reflects broader market weakness and hesitancy among traders to re-enter bullish positions.
This bearish momentum poses a challenge for HBAR’s price performance. Without support from the overall market, any potential bounce could be limited or short-lived. For HBAR to regain strength, the RSI must rise toward neutral levels.
HBAR RSI. Source:
HBAR RSI. Source:
HBAR Price May Remain Consolidated
HBAR is trading at $0.174 at the time of writing, hovering just below the $0.175 resistance level. Despite several setbacks, the token has managed to hold above its critical $0.162 support level, showcasing its resilience.
This support has been pivotal for HBAR over the past month, preventing a deeper decline toward $0.154. Even under current bearish conditions, the token will likely continue consolidating above this zone, providing a stable base for potential recovery.
HBAR Price Analysis. Source:
HBAR Price Analysis. Source:
If broader market conditions improve and inflows strengthen, HBAR could flip the $0.175 resistance into support. This could trigger a rally toward $0.194, paving the way for another attempt to breach $0.200 and potentially invalidate the bearish thesis.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Michael Saylor dismisses rumor of Strategy selling Bitcoin

CryptoQuant: Bitcoin decline linked to US liquidity stress and LTH profit taking

First spot XRP ETF starts trading in US

Canary XRP ETF sees $26M volume in 30 minutes, poised for record day one

