HBAR at Critical Resistance: A Fierce Struggle Between Bulls and Bears
HBAR is facing significant resistance at the $0.154 level. Breaking this level could trigger the liquidation of approximately $38 million in short positions, creating strong upward pressure on the price.
Currently, optimism prevails in the market. Positive funding rates indicate investors' confidence that the price will recover. However, if this resistance cannot be broken, the risk of a deeper decline is still on the table.
Critical Levels: Rise and Fall Scenarios
If HBAR manages to stay above $0.154, it may reach the next target of $0.163, and this momentum could bring about a broader recovery. On the other hand, if the price dips below $0.139, it will signal a bear market and could initiate a new downtrend down to $0.133.
Having experienced sharp fluctuations in the last month and a half, HBAR is struggling to recover its recent losses and break the downtrend. However, the technical outlook still indicates a critical threshold.
Traders' Attitude: Bullish Trend Continues
HBAR investors continue to take bullish positions despite the uncertainty in the market. Continuously positive funding rates indicate that long-term positions are predominant. This situation reflects investors' expectations that the price will recover and their confidence in the future of the altcoin.
Macro technical analyses reveal that if HBAR's price shows an upward breakout, short positions could be quickly liquidated, increasing buying pressure. A potential rise to $0.163 could cause this scenario to materialize.
Opportunity for Bulls, Risk for Bears
Investors taking short positions are acting with the expectation that the price will continue to fall. However, exceeding $0.154 and establishing this level as support may force them to close their positions. This could bring new buying pressure to the market, triggering a larger rise.
Current Situation and Expectations
At the time of writing, HBAR is trading at $0.148 and is very close to the critical resistance of $0.154. Exceeding this level could technically indicate the end of the downtrend for HBAR.
However, in the opposite scenario, if the price falls below $0.139, the downtrend may deepen. This would invalidate the bullish scenario and lead HBAR to fall under bear market pressure again.
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