HBAR Dips 8% — More Pain Ahead, or Can Bulls Still ‘Squeeze’ Out Gains?
HBAR dropped 8%, facing weak volume and a derivatives market heavily skewed toward shorts, creating a critical support test.Summary
HBAR is trading near $0.134, down nearly 8%, underperforming the general crypto market and continuing a three-month downtrend. Technical indicators show deepening weakness, as the On Balance Volume (OBV) broke below its descending trend line, signaling fading strength despite a recent higher low in price.
Derivatives data reveals a significant bearish tilt, with short positions outweighing long positions by about 475% ($15.32M vs $2.66M in liquidations), suggesting the market anticipates further declines. This imbalance keeps pressure on HBAR if support fails, but it also creates potential fuel for a sharp short squeeze if the price moves slightly higher.
The price is at a crucial crossroads at the $0.134 support level. A break below this could lead to $0.129 and potentially $0.087. A recovery requires closing above resistance at $0.144, which would then target $0.164—a move that would necessitate improved OBV volume and a reduction in the heavily shorted derivatives positioning to sustain.
(Source：BeInCrypto)