HBAR’s price has been stuck under a two-week-long downtrend, currently trading at $0.156. To escape this trend, HBAR will need to show further signs of strength, both from technical indicators and market sentiment.
The Chaikin Money Flow (CMF) indicator has struggled to close above the zero line, signaling weak inflows into HBAR. This is a concerning signal, as the CMF failing to sustain positive movement reflects investor skepticism and a lack of strong buying interest.
Although HBAR briefly crossed into the positive CMF zone for the first time in over a month, the overall market sentiment remains weak.
The first major hurdle for HBAR is breaking and flipping the $0.163 level into support. This is crucial as it would pave the way for the altcoin to reach the $0.180 resistance level. Investors will need to hold their positions through this critical phase, as any premature selling could derail the potential for further gains.
However, the bullish outlook could be invalidated if investor sentiment shifts to selling, whether for profit-taking or due to increased uncertainty. Losing the $0.154 support level would likely result in a drop toward $0.139, ending any hopes for a continued recovery in the short term.
Read More - HBAR Price Struggles to Break Out: What’s Holding the Altcoin Back?
The Chaikin Money Flow (CMF) indicator has struggled to close above the zero line, signaling weak inflows into HBAR. This is a concerning signal, as the CMF failing to sustain positive movement reflects investor skepticism and a lack of strong buying interest.
Although HBAR briefly crossed into the positive CMF zone for the first time in over a month, the overall market sentiment remains weak.
The first major hurdle for HBAR is breaking and flipping the $0.163 level into support. This is crucial as it would pave the way for the altcoin to reach the $0.180 resistance level. Investors will need to hold their positions through this critical phase, as any premature selling could derail the potential for further gains.
However, the bullish outlook could be invalidated if investor sentiment shifts to selling, whether for profit-taking or due to increased uncertainty. Losing the $0.154 support level would likely result in a drop toward $0.139, ending any hopes for a continued recovery in the short term.
Read More - HBAR Price Struggles to Break Out: What’s Holding the Altcoin Back?
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto
BeInCrypto
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto
BeInCrypto
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.