CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
coinpedia 2025-01-29 16:20:05

HBAR at Risk, Will It Rally 25% or Drop 35%?

The post HBAR at Risk, Will It Rally 25% or Drop 35%? appeared first on Coinpedia Fintech News Amid this massive price decline, Hedera’s native token, HBAR, has reached a crucial support level, creating a make-or-break situation for the asset. In the past two weeks, the token has witnessed a notable price drop of over 25% and has reached a level where it has historically experienced price reversals. HBAR Technical Analysis and Upcoming Levels According to CoinPedia’s technical analysis, HBAR seems to be forming an ascending triangle price action pattern on the daily time frame. However, the token has consistently taken support from the ascending trendline. The daily chart reveals that since November 2024, HBAR has taken support more than five times, and each time it witnessed upside momentum. Source: Trading View Looking at the current market sentiment and historical price momentum, there is a strong possibility it could soar by 25% to reach the $0.37 level in the coming days. However, if HBAR fails to hold this trendline support and closes a daily candle below the $0.287 level, a price drop of over 35% could be possible in the future. Current Price Momentum HBAR is currently trading near $0.30 and has experienced a price decline of over 4.5% in the past 24 hours. However, during the same period, market sentiment shows that participation from traders and investors has dropped by 25%. Investors Strong Buying Activity? One thing that is currently gaining significant attention from crypto enthusiasts is the continuous accumulation by long-term holders and investors during the days when HBAR’s price has been declining. Source: Coinglass Data from the on-chain analytics firm CoinGlass revealed that exchanges have witnessed an outflow of over $10 million worth of HBAR in the past 48 hours. These substantial outflows of HBAR indicate potential accumulation by long-term holders. Additionally, this metric further suggests potential buying pressure, which could lead to a further upside rally.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.