Hedera (HBAR) Faces Strong Selling Pressure, Eyes 18% Decline

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Is HBAR the New Titanic? 🚢💔

So, since January 17, Hedera (HBAR) has decided to take a nosedive, losing a whopping 20% of its value. I mean, who needs money, right? The altcoin is now playing hide and seek below a descending trendline, which is just a fancy way of saying, “Hey, I’m feeling pretty bearish today!”

As demand for this poor little altcoin continues to plummet like my motivation on a Monday morning, HBAR is at risk of an even bigger price drop. Buckle up, folks, because this analysis is about to get wild!

Hedera Bears Overrun Market

According to BeInCrypto’s oh-so-reliable assessment, HBAR has been trading below a descending trendline since January 17. Right now, it’s chilling at $0.31, which is like finding out your favorite ice cream flavor is sold out—20% decline and counting!

Now, a descending trendline is basically the universe’s way of saying, “You’re going down, buddy!” It connects a series of lower highs, which is just a polite way of saying that things are looking grim. If you’re trading below this line, it’s like wearing a sign that says, “I’m under pressure, send help!”

And guess what? HBAR’s Awesome Oscillator (AO) is confirming this delightful bearish sentiment. Since January 21, it’s been nothing but red histogram bars—like a bad review on Yelp. This momentum indicator is basically saying, “Sellers are flexing their muscles, and it’s not pretty.”

The AO measures market momentum by comparing two simple moving averages (SMA) of an asset’s price. When the bars are red, it’s like the market is throwing a tantrum, suggesting that sellers are gaining strength and the price might just keep plummeting. Yay!

HBAR Price Prediction: Token Under Threat of 18% Decline to $0.26

If sellers keep their grip on the market like a toddler with a cookie, HBAR could be looking at an 18% drop to $0.26. According to the Fibonacci Retracement tool (which sounds like a fancy yoga move), if the selloffs keep coming, that support level might just wave goodbye, and we could see a drop to $0.22. How fun!

But wait! There’s a glimmer of hope! If HBAR gets a sudden surge in buying pressure—like a surprise party for your best friend—it could rebound and climb back up to its multi-year high of $0.40. Fingers crossed, right?

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2025-01-30 15:48