Hedera (HBAR) Rally Stalls Despite $2.46 Million Spot Inflows Spike
Hedera's HBAR gains $2.46M in spot inflows, driving a short-term price boost. However, bearish signals may limit further growth.
Hedera’s HBAR has recorded its first significant spot inflows in the past ten days, with $2.46 million entering its markets on Tuesday. This has driven the altcoin’s price up by 2% over the past 24 hours, riding the wave of a broader market recovery.
However, while the inflow signals renewed interest in the asset, data suggests this price uptick may be short-lived. Technical indicators suggest HBAR’s bullish momentum remains weak, hinting at a potential price correction.
Hedera Bears Remain in Full Control
So far today, HBAR has recorded spot inflows totaling $2.46 million, marking its first notable inflows in over ten days. Spot inflows indicate fresh capital entering the market through direct asset purchases, signaling renewed investor interest and potential short-term price momentum.
HBAR Spot Inflow/Outflow. Source:
Coinglass
However, despite the fresh inflow and price increase, bearish sentiment weighs heavily on HBAR. Its Awesome Oscillator (AO), which measures its market momentum, continues to present only red histogram bars.
When an asset’s AO bars turn red, bullish pressure weakens, and bearish momentum increases. This hints at the possibility of an HBAR price reversal in the near term.
HBAR Awesome Oscillator. Source:
TradingView
Moreover, readings from its Moving Average Convergence Divergence (MACD) indicator support this bearish outlook. At press time, the token’s MACD line (blue) rests below its signal line (orange).
This momentum indicator helps traders identify trends, momentum shifts, and potential buy or sell signals based on the crossing of the MACD line, signal line, and changes in the histogram. When set up this way, it indicates bearish momentum. This means that selloffs exceed buying activity among market participants, putting significant downward pressure on its price.
HBAR MACD. Source:
TradingView
HBAR Price Prediction: Will Bulls Push It to $0.40?
If bearish pressure strengthens, HBAR could shed its recent gains and drop toward $0.26. If the bulls fail to defend this support level, HBAR’s price could plummet further to $0.24.
HBAR price Analysis. Source:
TradingView
On the other hand, if the bulls regain market control and the uptick is sustained, HBAR’s price could break above $0.33 and climb toward $0.40.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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