Hedera (HBAR) Coin Down, How to Analyze?

Bittime - Hedera (HBAR) Coin Drops, What's the Analysis? This article discusses the HBAR price decline, bearish market sentiment, and short-term predictions, as well as the importance of caution for investors.

HBAR Experienced a Significant Decline

Hedera (HBAR) is currently facing major challenges with a price drop of around 7.9% in the last 24 hours. A 20% spike in trading volume indicates increasing selling pressure, especially after the local support level failed to hold. 

Traders are advised to remain vigilant, because long positions are currently high risk and more profitable for scalpers.

Bearish Market Sentiment

The Long/Short ratio based on trading volume shows that 56.5% of the volume was sellers, reflecting the strong bearish sentiment in the last 24 hours. 

This occurred alongside a retest of the $0.223 level as resistance, adding to concerns among investors.

Source: coinglass

Volatility Increases

After experiencing substantial losses in early February, Hedera price stabilized above the $0.223 level, which is also the 61.8% retracement level of the November rally. 

However, during this consolidation phase, trading volume shrinks and the Bollinger Bands begin to narrow around the price.

Momentum Bearish

In the last two days, market momentum has shown a bearish trend. While Bitcoin (BTC) remains stuck in the $95,500 to $98,000 range, many other altcoins are seeing a decline. 

The Awesome Oscillator indicator for HBAR showed a bearish crossover, and CMF (Chaikin Money Flow) fell below -0.05. With the loss of the $0.223 support level, Hedera price has plunged more than 8% in less than two days.

Read too How to Buy Hedera (HBAR)

Short Term Price Predictions

It is expected that this short-term downtrend will continue, and HBAR will likely retest the support level around $0.176 in the next few days. 

Source: AMBCrypto/TradingView

However, if Bitcoin approaches the support zone at $94,000, HBAR may experience a short-term price rebound.

Read too Hedera Price Prediction (HBAR) 2025 and Long Term

Social and Sentiment Analysis

Data from Santiment shows that HBAR social metrics are bearish. Social dominance—a measure of a token's volume as a share of the more than 50 most popular crypto assets on social media—has been declining since mid-January. Additionally, measured sentiment has remained negative since mid-December.

Source: Santiment

Conclusion

Overall, the short-term market structure suggests that bulls should be careful. Long positions are currently high risk and more profitable for traders who scalp. Investors are advised to monitor market developments and the latest news that could influence future HBAR price movements.

FAQ about Hedera (HBAR) Coin

1. What caused the current decline in HBAR prices?

The drop in HBAR prices is due to increased selling pressure, with prices down around 7.9% in the last 24 hours, as well as bearish market sentiment.

2. What are the support and resistance levels for HBAR?

The nearest support level for HBAR is at $0.176, while the main resistance to watch is at $0.223.

3. What is the short-term outlook for HBAR?

The short-term outlook suggests the downside trend may continue, with HBAR potentially retesting the support level at $0.176 in the next few days. However, a short-term rebound is possible if Bitcoin approaches the support zone at $94,000.

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Reference

Akashnath S, HBAR to fall 13% soon? THIS suggests growing volatility ahead, Accessed February 19, 2025

Author: IN