HBAR’s price action has left investors cautious after the altcoin failed to break out of a two-month-long consolidation phase. This resulted in HBAR falling back into its prior range, disappointing hopes of a sustained rally.
Investor hesitation and the lack of significant inflows further weigh on the cryptocurrency’s performance.
HBAR Investors Are Skeptical
The Average Directional Index (ADX) signals that HBAR’s uptrend is losing steam, with the indicator falling below the critical 25.0 threshold. This decline highlights the weakening strength of the ongoing trend, which had previously been upward. The fading momentum reflects growing uncertainty among investors about the altcoin’s near-term prospects.
Backing this sentiment is the Parabolic SAR indicator, where dots above the candlesticks confirm a shift toward a downtrend. Together, these technical signals point to an erosion of bullish confidence, with HBAR’s price now facing increased bearish pressure as traders await more definitive cues.
HBAR’s macro momentum remains uninspiring, as evidenced by the Chaikin Money Flow (CMF) indicator’s struggle to close above the zero line. This suggests that outflows are dominating the market, with limited inflows to offset the selling pressure. The imbalance highlights the lack of investor confidence in HBAR’s ability to break out of consolidation.
The weak inflows are further dampening HBAR’s potential for growth as traders remain hesitant to re-enter the market. Without a clear shift in momentum or broader market support, HBAR could continue to face challenges in gaining traction and sustaining upward movement.
HBAR Price Prediction: Consolidation Returns
Currently trading at $0.30, HBAR has fallen 7% in the last 24 hours. The cryptocurrency is now back within its consolidation range of $0.33 to $0.25 after failing to secure $0.33 as a support level. This slip has reignited concerns about the altcoin’s near-term trajectory.
HBAR’s failed attempt to breach $0.40 was followed by a significant drop. If the decline continues, the altcoin could test the lower limit of its consolidation range at $0.25. Such a move would represent a 17% correction, further eroding investor confidence in the short term.
However, reclaiming $0.33 as a support level could provide HBAR with a second chance to challenge $0.40. Successfully breaching this resistance would invalidate the bearish outlook and potentially attract renewed buying interest, offering hope for a recovery.
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