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Hedera (HBAR) Price Drops 13% and Loses $10 Billion Market Cap

Hedera (HBAR) Price Drops 13% and Loses $10 Billion Market Cap
Hedera (HBAR) has experienced a significant decline in price, with a drop of over 13% in the last 24 hours and 19% over the past week. This has caused HBAR's market cap to fall below $10 billion. Technical indicators, such as the rising ADX and bearish Ichimoku Cloud setup, confirm the current downtrend. The ADX suggests that the bearish momentum is intensifying, and the Ichimoku Cloud signals a clear bearish trend. To reverse this trend, HBAR would need to regain key resistances and establish support above the Ichimoku Cloud. However, with the current setup and the formation of a death cross on its EMA lines, further downside is likely unless there is a significant shift in buying activity or trend indicators. On the other hand, if HBAR manages to regain bullish momentum, it could potentially reach levels above $0.35.

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