CandleFocus

Hedera price forecast: HBAR’s open interest hits yearly lows as market uncertainty grows

Hedera price forecast: HBAR’s open interest hits yearly lows as market uncertainty grows
The cryptocurrency Hedera (HBAR) is experiencing significant losses, with its open interest hitting yearly lows and signaling declining demand. The bearish price performance of HBAR has led to a decrease in trader confidence and market participation. Technical signals, such as the Chaikin Money Flow and Moving Average Convergence Divergence, confirm the asset's dire situation. HBAR is back in a descending parallel setup, indicating amplified bearish pressure. If bearish trends continue, the support zone at $0.16 could be targeted. However, a significant buyer resurgence could turn the outlook bullish. The performance of Bitcoin is also important in determining the near-term direction of HBAR.

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