Hedera (HBAR) has experienced significant growth in recent weeks as the altcoin attempts to recover losses incurred in the past. Over the last six weeks, the HBAR price has been steadily rising, and traders hope that this upward momentum will continue.
Recent price movements mark a two-month high for the token, indicating positive sentiment in the market and expectations of further rallies.
Hedera traders are optimistic
The funding rate for HBAR recently reached a five-month high, signaling strong optimism among traders in the futures market. Long contracts dominate over shorts, indicating traders' expectations for further price growth.
This surge in long contracts also highlights the growing confidence in HBAR's future performance. The dominance of long positions in the futures market reflects broader confidence in the token's value and growth. HBAR's macroeconomic momentum is also supported by positive technical indicators. The Chaikin Money Flow (CMF) indicator is currently showing a sharp increase, reaching its highest point since December 2024.
This indicates strong inflows into the asset, suggesting that investors are buying HBAR in large volumes.
The increase in CMF also indicates that the current rally is supported by solid investor backing. As more capital flows into the asset, the upward momentum strengthens, providing HBAR with the foundation needed for sustainable growth.
HBAR Price Finds Support
The HBAR price has decreased by 6% today after a 24% increase earlier this week, trading at $0.204 at the time of writing. The altcoin is holding above the critical support level of $0.200 and is currently facing resistance at $0.222. If HBAR can successfully overcome this resistance, it could continue its upward trajectory, making further price growth likely.
The next key milestone for HBAR is to turn $0.222 into support. This will allow the altcoin to target $0.250, solidifying recent gains and strengthening the recovery momentum.
A successful breach of this level would indicate a continuation of bullish strength and could attract further investor interest in the asset. However, if HBAR fails to overcome the resistance at $0.222, there is a risk of falling below the support at $0.200. A drop below this level could lower the price to $0.182, nullifying the current bullish outlook.
This could indicate a potential reversal in sentiment and may slow down the altcoin's recovery process.
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