Well, well, well! HBAR is on a rollercoaster ride, and guess what? It’s heading down faster than a lead balloon! 🎈 Despite traders waving their pom-poms and chanting for a comeback, this altcoin is still searching for a solid support floor. Spoiler alert: it hasn’t found it yet!
But hold your horses! Traders are still clinging to hope like a cat on a hot tin roof, dreaming of a recovery while the market throws pies in their faces. 🥧
Hedera Traders Are Placing Long Contracts
Right now, HBAR’s funding rate is as positive as a puppy in a room full of tennis balls! 🐶 This means long positions are strutting their stuff while short contracts are sulking in the corner. Traders are betting on HBAR’s price to rise like a soufflé, hoping to cash in on the recovery. But with the market conditions looking like a bad hair day, it’s tough for these bets to pay off. 😬
Even with the long traders feeling optimistic, the broader market is giving HBAR the cold shoulder. While they’re still placing bets, there’s a big ol’ risk of losses if the market keeps doing the cha-cha downwards. 💃
Now, let’s talk about the ADX (Average Directional Index) indicator, which is currently showing a downtrend stronger than my Aunt Edna’s meatloaf! 🍖 With the ADX soaring above 25.0, the bearish trend is as solid as a rock and likely to keep on rolling. This means HBAR’s price might just keep sliding down the slippery slope before it finds a comfy support level.
Even though traders are betting on a recovery, the ADX is like that annoying friend who keeps reminding you of your failures. Until something changes, it’s anyone’s guess when the price will stop doing the limbo! 🤷♂️
HBAR Price Holds Above Key Support
Currently, HBAR is trading at $0.184, which is a 6% drop over the last 48 hours. It tried to hold onto the $0.197 support level like a toddler with a cookie, but alas, it slipped away! 🍪 If this bearish trend keeps up, HBAR might just keep sliding down, testing lower levels like a contestant on a game show. 🎤
The next big support for HBAR is at $0.177, a level that’s been as reliable as your grandma’s secret recipe. If it drops to this support, it might just hang around for a bit, signaling a potential pause in the downtrend. But let’s be real, it needs to hold on tight to avoid a deeper dive! 🏊♂️
If the market conditions decide to play nice, HBAR could see a recovery, flipping $0.197 into support like a pancake! 🥞 A successful breach of $0.222 could give this altcoin a boost, invalidating the bearish outlook and signaling a shift toward positive price momentum. But remember, this all depends on the market stabilizing, which is like waiting for a unicorn to show up! 🦄
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2025-03-21 15:36