HBAR’s ETF Buzz Could Be a Late Bloomer As Price Pullback Sets Up The Next Rally
HBAR experienced a post-ETF launch pullback, but technical indicators suggest this is setting up for a new rally, potentially fueled by a short squeeze.Summary
Hedera's token, HBAR, dropped about 4.5% after the Canary Capital spot HBAR ETF launched, appearing as a typical sell-the-news reaction following an 18% rally. However, technical analysis suggests this pullback is forming a foundation for a future upward move, meaning the ETF impact might be delayed.
The price confirmed an inverse head-and-shoulders breakout, which remains valid as long as HBAR holds above $0.161. The Chaikin Money Flow (CMF) indicator shows large investors are buying the dip, supporting the structure despite slightly slowing inflows.
Furthermore, the derivatives market shows a significant imbalance with short positions outweighing longs by more than 2-to-1. If HBAR rises above $0.198, it could trigger a short squeeze, rapidly driving prices higher. Combined with bullish signals from EMAs and a hidden bullish divergence on the RSI, the current weakness is interpreted as a setup phase before the next major HBAR price rally.
(Source：BeInCrypto)