Hedera Hashgraph (HBAR) is experiencing a frustrating downturn. Despite its technical potential being highly regarded, due to the bearish market sentiment, HBAR's price has continued to consolidate over the past month, hovering between $0.25 and $0.39, struggling to break through the shadow of the bear market.

Traders are exiting, and market confidence is teetering.

In just six days, HBAR's open contracts plummeted by $95 million, indicating a large amount of capital is withdrawing from the market. Traders' interest in the asset has sharply declined, directly impacting liquidity and trading volume.

The long-term consolidation of prices has left investors' confidence weakened, especially for those traders expecting short-term gains. As exposure decreases, bearish sentiment in the market grows stronger, making it even harder for HBAR to gather the momentum needed for a rebound.

Technical deterioration: Downward pressure intensifies

Technical indicators further highlight the challenges facing HBAR. The MACD indicator recently shows that bearish momentum is intensifying rather than weakening, indicating that market selling pressure is gradually increasing. This bearish divergence is concerning, suggesting that unless there is a clear market positive, HBAR's price may continue to be under pressure.

Without strong bullish catalysts, HBAR is likely to face greater resistance in the coming months. The dual blow of selling pressure and market sentiment is forming a vicious cycle that weakens HBAR's breakout potential.

Price outlook: Breakthrough or breakdown?

HBAR is currently hovering at $0.27, still 109% away from its historical high of $0.57. Since the surge of 637% last November, HBAR has failed to replicate a similarly stunning performance.

If HBAR cannot break through the key resistance level of $0.39, it may face the risk of prolonged consolidation or further decline below $0.25. In the worst-case scenario, HBAR could slide to $0.18, triggering greater market panic.

However, if the market interest can be reignited and break through the current range, HBAR may return to a growth track and even achieve new breakthroughs in the future. However, current market conditions and investor sentiment remain the biggest uncertainties.

No need to panic in a sluggish market; steady operations are the way to go. HBAR's future is full of challenges, but opportunities often arise in crises.

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