HBAR Price Looks Closely Tied to Bitcoin, What’s Next?
HBAR faces bearish pressure, closely mirroring Bitcoin's performance, with technical indicators suggesting further declines toward $0.099.Summary
Hedera's HBAR is under persistent downtrend pressure, failing multiple breakout attempts, partly due to the strained broader market environment. Technical analysis, specifically the Squeeze Momentum Indicator, shows deepening bearish momentum, suggesting selling pressure remains dominant and hindering recovery.
HBAR's price action is strongly correlated with Bitcoin, showing a 0.79 correlation coefficient, meaning HBAR largely mirrors BTC's movements. As Bitcoin struggles for momentum, HBAR's ability to break its downtrend is severely limited.
Currently trading near $0.111, HBAR is holding above the $0.110 support level. However, prevailing bearish conditions suggest the price may struggle below $0.120 and could decline toward $0.099. A bullish reversal would require renewed investor inflows to push the price sustainably above $0.125, invalidating the current bearish outlook.
(Source：BeInCrypto)