Hedera (HBAR) Faces Decline
Hedera continues to face significant pressure, marking another day of decline as traders remain bearish. Currently trading at $0.18, it has seen a 2% decrease in the last 24 hours.
Short Sellers Tighten Grip on HBAR
The long/short ratio for HBAR has dropped to 0.86, indicating a notable increase in short positions among derivatives traders. A ratio below one signals that more traders are betting on price declines, revealing a predominantly pessimistic sentiment regarding HBAR’s future.
Additionally, the negative Chaikin Money Flow (CMF) at -0.10 reinforces this bearish outlook, suggesting high selling activity is dominating the market.
HBAR Traders Brace for Volatility as Price Flirts with Key Support Levels
The growing demand for short positions raises concerns about HBAR’s ability to maintain its position above a critical support level at $0.17. If it fails to hold, prices could fall to a multi-month low of $0.11, not seen since November. However, if demand surges, HBAR could rebound towards $0.22 and potentially reach $0.26 if it breaks resistance.
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