Hedera Hashgraph (HBAR) experiences significant price drop, potential further decline

One sentence summary – Hedera Hashgraph (HBAR) has experienced a significant price drop, breaking a critical support level, resulting in profits for short sellers and indicating potential further downward movement, while indicators suggest a lack of bullish conviction and demand, and the futures market displays a bearish bias, potentially leading to a decline in HBAR’s price.

At a glance

  • Hedera Hashgraph (HBAR) has experienced a significant price dip, breaking the critical support level of $0.05.
  • HBAR shorts have made profits of over 15% due to this price drop.
  • The break in price suggests a potential further downward move and a shift in momentum on higher timeframes.
  • Bitcoin’s price action below $26,000 has provided an opportunity for bears to extend their gains.
  • Despite a positive month in July with a 50% price pump, HBAR faced selling pressure and broke the critical support level.

The details

Hedera Hashgraph (HBAR) has seen a significant price dip in the past week, breaking the critical support level of $0.05.

This price drop has resulted in profits of over 15% for HBAR shorts.

The break in price marked a shift in momentum on higher timeframes, indicating a potential further downward move.

Bitcoin’s price action below $26,000 has also offered an opportunity for bears to extend their gains.

July was a positive month for HBAR bulls, with a significant 50% price pump.

However, a price rejection at the $0.075 zone introduced sustained selling pressure.

The retracement between August 15 and August 17 was followed by a bullish recovery on August 19.

Despite this recovery, selling pressure continued to persist.

Sellers successfully pushed HBAR below the critical $0.05 support.

This break of the previous higher low signaled a bearish takeover of the market structure.

On-chart indicators, such as the Relative Strength Index (RSI) and On-Balance Volume (OBV), suggested further losses.

These indicators also suggested a lack of bullish conviction and demand for HBAR.

The futures market displayed a clear bearish bias, with shorts currently holding a 52.54% advantage.

This dominance of short positions indicates a potential further decline in HBAR’s price.

In the coming days, it is possible that HBAR could reach the June lows of $0.04 to $0.045.

These combined facts highlight the current state of Hedera Hashgraph’s market performance.

While July’s price pump provided a positive outlook, the subsequent rejection and subsequent bearish momentum indicate potential challenges ahead.

It is crucial for market participants to closely monitor indicators and future developments to gauge the direction of HBAR’s price movement.

This brief is generated based on available facts and information, presenting a comprehensive overview of the current situation.

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– Hedera’s week-long price dip broke the previous higher low and pushed prices below the critical $0.05 support level.
– This resulted in profits of over 15% for HBAR shorts.
The break of the critical support level signaled a shift in momentum on the higher timeframes, with a high possibility of a further downward move.
– Bitcoin’s sub-$26k price action could provide an opportunity for bears to extend their gains.
– July was a good month for HBAR bulls, with a 50% price pump.
– However, there was a price rejection at the $0.075 price zone, leading to sustained selling pressure.
The retracement between August 15 and August 17 was followed by a bullish recovery on August 19, but selling pressure persisted.
– Sellers pushed HBAR below the $0.05 support, breaking the previous higher low and signaling a bearish takeover of the market structure.
– On-chart indicators, such as the RSI and OBV, suggested further losses and a lack of bullish conviction and demand for HBAR.
The futures market showed a bearish bias, with shorts holding a 52.54% advantage.
– Shorts could reach the June lows of $0.04 to $0.045 in the coming days.

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