HBAR Price Tests $0.16 Support — One Move Could Trap the Bears

Hedera (HBAR) price has dropped nearly 8% this week, currently testing the critical $0.16 support level. Analysis suggests this pullback might be temporary due to two key factors: selling pressure is fading, evidenced by a 76% drop in weekly exchange inflows between October 13 and 20, mirroring a pattern that preceded a major rally in June. Simultaneously, futures traders are heavily short-positioned ($44.88 million short vs. $14.11 million long), creating conditions ripe for a short squeeze if the price closes above the $0.19 liquidation cluster. For bulls to take over, HBAR must hold $0.16 and break $0.19, potentially leading to $0.23, which could trigger the squeeze and target $0.25 or $0.30. Technical indicators, like the bullish divergence between lower price lows and higher RSI lows, support a potential reversal, though failure at $0.15 would invalidate the setup and target $0.12.

(Source：BeInCrypto)