CandleFocus

Hedera (HBAR) Stumbles from $0.39 Peak, Open Interest Down 38%

Author: Content Editor
The native cryptocurrency of the Hedera Hashgraph network, HBAR, has experienced an 8% increase in the past 24 hours. However, this surge is seen as part of a broader market rally and does not indicate a shift in the bearish sentiment towards HBAR. The increase in price is attributed to speculative buying rather than genuine demand, as trading volume has declined by 21%. The low activity is reflected in the drop in open interest in HBAR derivatives, suggesting reduced market participation and waning investor confidence. The negative sentiment towards HBAR is also evident in social media mentions, with most being negative. The Awesome Oscillator supports a bearish outlook, indicating weakening bullish trends. If bearish pressure intensifies, HBAR could drop to $0.25, but if market sentiment becomes bullish, it may attempt to reclaim its three-year high of $0.39.

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