Hedera (HBAR) has struggled to maintain significant momentum, with its price action reflecting a bearish-neutral trend over the past month. Despite its potential, HBAR has struggled to recover due to declining market enthusiasm.
Even longtime supporters of the asset appear to be pulling back as market conditions weigh on investor sentiment.
HBAR traders are disappointed
HBAR’s Open Interest has fallen by $95 million in just six days, highlighting a significant decline in trader activity. The decline reflects investors pulling their funds out of the asset, reducing liquidity and trading volume. The prolonged period of consolidation is eroding confidence, reinforcing a bearish sentiment in the HBAR market.
The persistent lack of price action has led traders to reduce exposure as near-term earnings expectations fade. This shift in sentiment has increased bearish pressure, making it increasingly challenging for HBAR to build the momentum needed for a recovery. The asset remains stuck in a cycle of uncertainty.
HBAR Open Interest. Fonte: Coinglass
Technical indicators paint a worrying picture for the coin’s macro momentum. The Moving Average Convergence Divergence (MACD) indicator shows strengthening bearish momentum after a brief pause, signaling increased selling pressure. This shift indicates that the downtrend could accelerate, further limiting HBAR’s ability to break out of its current range.
The bearish divergence is concerning as it was expected to ease but instead gained pace. This renewed momentum suggests that HBAR price may remain under pressure unless significant bullish catalysts emerge. Without a reversal in macro trends, the altcoin may face additional headwinds in the coming months.
HBAR MACD. Fonte: TradingView
HBAR Price Prediction: Organizing a Breakout
HBAR has been consolidating between $0.39 and $0.25 for over a month, struggling to break out of this tight range. With the current price at $0.27, the all-time high of $0.57 is 109% away. To reach $0.57 and potentially set a new ATH, HBAR would need a sustained bullish momentum similar to its 637% rally in November.
While a rally of this magnitude is unlikely in January 2025, even a moderate push could push HBAR higher. However, failure to break above $0.39 could prolong the consolidation or lead to a drop below $0.25. In this scenario, HBAR could fall as low as $0.18.
HBAR Price Analysis. Source: TradingView
Thus, breaking above the $0.25-$0.39 consolidation range is crucial to initiate an uptrend and restore market confidence. HBAR achieving a similar performance to November and registering a new ATH would depend on favorable market conditions and renewed investor interest, both of which are still uncertain at the moment.
The article HBAR faces bearish market and investor pessimism appeared first on BeInCrypto Brazil.
