Oh, Hedera (HBAR), how the tables have turned! The once-promising altcoin now finds itself in a bit of a pickle, as the market swirls with turbulence and traders waver between gains and losses.
This shift in sentiment, characterized by uncertainty, is a negative sign for HBAR’s future price action. It’s as if the coin has lost its footing on the dance floor, and now everyone’s watching to see if it can regain its composure.
Hedera Is Looking For A Reversal
The funding rate for HBAR traders is currently fluctuating, indicating uncertainty about the coin’s next move. Traders are switching between short and long contracts, reflecting their indecision. This back-and-forth in sentiment can lead to instability in the market, with fluctuations negatively impacting the price as the market reacts to each new position.
Such frequent shifts in sentiment from traders can be detrimental to price stability. As the market remains uncertain about whether HBAR will rise or fall, the fluctuations in contracts can lead to increased volatility, which may result in further downside pressure on HBAR’s price.
The macro momentum for HBAR shows a bearish outlook, especially when analyzing key technical indicators such as the Relative Strength Index (RSI). Currently, the RSI is on the verge of falling into the oversold zone, which typically indicates that the asset is being undervalued.
Historically, when the RSI drops below 30.0, it has been followed by price reversals, triggering recoveries. This could provide an opportunity for HBAR to reverse its recent trend and set the stage for a price recovery.
While the RSI’s current position suggests bearishness, the oversold region has often acted as a turning point in the past. If the RSI moves into the oversold zone, it could signal that HBAR is due for a rebound, offering a potential buying opportunity for investors looking to capitalize on a possible reversal.
HBAR Price Prediction: Bouncing Back
HBAR’s price has declined by 8% over the last 48 hours, breaking below the consolidation that had formed over the past two weeks. Trading at $0.208, the altcoin has lost some support, and further downside movement seems possible in the short term. This shift in price action signals the need for a strong level of support to avoid further losses.
In order for HBAR to stage a recovery, the price may need to fall further, potentially below $0.200, to test the $0.182 support level. This would push the RSI into the oversold region, which could trigger a reversal and pave the way for a price recovery. A dip into this area often signals the end of a downtrend and the beginning of an upward movement.
However, if HBAR manages to reclaim $0.225 as a support floor, the altcoin could recover without significant losses. This would help stabilize the price and set the stage for a move toward the next resistance at $0.250. Securing $0.225 as support would be a bullish development for HBAR, offering hope for further gains in the near future.
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2025-02-18 13:16