CandleFocus

Hedera (HBAR) Price Slips Below Key Moving Average, Could Extend 17% Correction

Author: Content Editor
The price of Hedera (HBAR) has dropped by nearly 17% in the last seven days, raising concerns among holders. Technical indicators such as the Exponential Moving Average (EMA) suggest that HBAR's value could continue to decline. The altcoin has dropped below the 20-period EMA on the 4-hour chart, indicating a bearish trend and the potential for further price drops below $0.29. Additionally, a decrease in HBAR's social dominance, which measures discussions about the cryptocurrency, suggests waning interest and could contribute to price declines. The Chaikin Money Flow (CMF) on the daily chart also indicates rising selling pressure, potentially causing HBAR's price to drop to $0.17. However, if HBAR rises above the 20 EMA and buying pressure increases, the trend could change and the token could climb to $0.39.

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