HBAR Price Falls 18% A Week After Losing Its Month-Long Support
BeInCrypto
Hedera's HBAR price dropped over 18% to $0.130 after breaking a key monthly support level, heavily influenced by Bitcoin's movements.Summary
Hedera's HBAR experienced a sharp decline of over 18% this past week, falling to $0.130 after breaching a critical support level that had been maintained for over a month. This drop is largely attributed to HBAR's near-perfect correlation (0.97) with Bitcoin, meaning HBAR mirrored BTC's recent price movements downward. Furthermore, momentum indicators like the Chaikin Money Flow (CMF) are near an eight-month low, signaling accelerated capital outflows from the asset, which intensifies selling pressure. If bearish sentiment continues, HBAR could fall further to $0.120 or even $0.110. A recovery would require HBAR to break above $0.133 to stabilize, with a move past $0.145 needed to regain significant upward momentum.
(Source：BeInCrypto)