Related Articles
Hedera hemorrhaged value this past week, its price plummeting to a sobering $0.130. A staggering 18% vanished, leaving investors reeling.
The floor just fell out from under HBAR. A month of hard-won gains evaporated as it shattered a critical support, leaving investors reeling.
Hedera Is Following The King
Hedera’s tethered to Bitcoin! Its correlation is a sky-high 0.97, a peak unseen in months. HBAR’s practically a Bitcoin echo, mirroring every price wobble and surge.
Such strong alignment becomes especially problematic during periods when BTC faces substantial pressure, as seen this past week.
Bitcoin’s $84,408 plunge dragged HBAR down with it, shackling the altcoin to BTC’s fate. Hedera’s independent streak? Gone. Now, Bitcoin’s bearish breath is HBAR’s chilling reality, fueling its latest slide.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
HBAR Correlation To Bitcoin. Source: TradingView
HBAR’s looking shaky. The Chaikin Money Flow, a key indicator of investor enthusiasm, is flashing red, scraping eight-month lows. That means money’s fleeing HBAR, reinforcing the bearish narrative.
Cash Flow: When the money’s running for the exits. A deeply negative Chaikin Money Flow (CMF) isn’t just a dip; it’s a stampede. See that plummeting line? That’s investors yanking their cash, and they’re doing itfast.
Imagine a dam slowly cracking, water seeping out, then gushing. That’s what’s happening here. Relentless capital flight is hammering prices already on the ropes. As liquidity vanishes, like water down a drain, the selling frenzy intensifies, and any hope of a rebound withers.
Unless inflows return, HBAR may continue facing difficulty in regaining upward momentum.
HBAR CMF. Source: TradingView
HBAR Price Can Bounce Back
HBAR’s stumble this week saw it plummet 18%, breaching the $0.162 fortress that had stood defiant for over a month. Is this a temporary setback or a sign of deeper cracks forming in its foundation?
Losing that support has exposed the altcoin to deeper declines and increased volatility as bearish sentiment grows.
Given that macro conditions have not improved, HBAR could drop to $0.120 from its current price of $0.129.
A fall below $0.120 may trigger additional losses, sending the price toward $0.110 as selling pressure builds.
HBAR Price Analysis. Source: TradingView
HBAR teeters on the brink. Will the bulls charge back? Clawing above $0.133 is the opening salvo in a potential comeback, a critical foothold for reclaiming lost ground.
Breaking past $0.145 could open the path to $0.154 and higher, invalidating the bearish outlook and restoring investor confidence.
The post HBAR Price Falls 18% A Week After Losing Its Month-Long Support appeared first on BeInCrypto.
Thanks for reading HBAR Price Falls 18% A Week After Losing Its Month-Long Support
