HEDERA (HBAR) is currently witnessing a stage of sharp decline, as its price has fell by 11% during the past three days, which reflects a clear shift in the direction of the market and a gradual loss of investor confidence.
It seems that this currency began to separate from the price orbit of Bitcoin, which may expose it to more volatile price movements and influenced by independent factors instead of its association with the most prominent currency in the market.
Weak investment momentum and increasing sales pressure
For its part, technical indicators indicate that the financial flows coming out of HBAR are clearly increasing, as the CAIKIN flow index (CMF) approaches its lowest level in four weeks, and its approach to the zero line suggests that the pressures of the sale are outperforming the purchases, and if the index decreases to below this line, the sellers will be clearly confirmed control.
This situation reflects a state of caution and hesitation among investors who have become confident in HBAR’s ability to recover or ascend in the short term, and the continued weakness of this indicator may mean more expected decreases in the coming days.
The bonding with Bitcoin and its double effects declined
HBAR movements are usually associated with a bitcoin price closely, but this interconnection has now declined to its lowest levels in two months, and this separation may have a double effect; On the one hand, HBAR may avoid some pressure if Bitcoin decreases more, but on the other hand, it may deprive her of taking advantage of any bitcoin -led wave.
The separation from the Bitcoin path leaves HBAR exposed to market fluctuations and its own variables, which makes its performance more fragile in front of the fluctuations associated with the prevailing feelings between investors or any changes in the general environment of digital currencies.
Do you go up HBAR to a level of $ 0.30?
HBAR is currently trading at $ 0.258 that makes it close to main support levels, and with the continued weakness of the market and the increase in sales pressure, its decline appears to a possible 0.236 level, especially if technical indicators continue to show weak liquidity and confidence.
In the event that HBAR is able to maintain 0.236 support and the level regains 0.276 as a strong support zone, we may witness a shift in the direction and open the way for a $ 0.30 barrier test.
