On Christmas, the price of $HBAR was $0.32, but it has now decreased to $0.29. This is explained by increased sales and weak buyer interest.
However, the HBAR dynamics on the 3-day chart show the formation of a bullish flag. This technical pattern is considered bullish. It typically appears after a strong price increase, followed by a brief consolidation or pullback.
If the pattern is confirmed, it will be seen as a continuation of the upward trend. With the formation of the bullish flag, the altcoin price is likely to rally energetically to $0.40.
Traders are anticipating an increase in the value of the cryptocurrency, which is confirmed by the funding rate. This mechanism ensures a balance between long and short positions in the perpetual futures market. Positive values indicate the dominance of long positions and mean that the contract price exceeds the spot price. This means that more traders are buying the coin in anticipation of selling it at a higher price.
The Hedera funding rate is in the positive zone at 0.01%. If this continues, long positions may support the price growth of HBAR in the near future.
