Hedera’s HBAR has been experiencing a period of sideways movement recently, reflecting the broader cryptocurrency market’s indecisiveness. After several days of muted trading, the altcoin’s fluctuations indicate a developing trend: HBAR holders are beginning to take a more active role in trying to shift momentum. Interestingly, early signals suggest that bearish pressure might be waning.
Recent data from the Chaikin Money Flow (CMF) indicator reveals a distinct uptrend, indicating a significant slowdown in outflows. This noteworthy development implies that selling pressure among investors is diminishing. As cryptocurrency holders reconsider their strategies and begin to pull back from liquidating their tokens, market sentiment appears to be gradually improving, fostering a more constructive outlook.
Should the CMF continue on its upward trajectory and break above the zero line, HBAR would officially enter a phase of net inflows. Such a transition would indicate a resurgence of confidence among traders, possibly igniting momentum for price increases. Typically, sustained inflows align with heightened market momentum, which could provide the impetus for HBAR to break free from its current range.
Another factor to consider is HBAR’s declining correlation with Bitcoin. After maintaining a close correlation for over three weeks, the current measure has slipped to 0.62. This decoupling suggests that HBAR is increasingly charting its own path, independent of Bitcoin’s often dominant market influence. This shift could be advantageous, particularly since Bitcoin itself has been treading water without a clear recovery trajectory. Should HBAR continue to detach from Bitcoin while sentiment improves, it stands a chance of outperforming the broader market,-seizing independent upward momentum.
In recent trading activity, HBAR’s price has dipped by 5% over the past 24 hours, maintaining a range between $0.150 and $0.130 for nearly three weeks. This trend of oscillation is likely to persist unless a significant market catalyst emerges. Nonetheless, the strengthening CMF hints at potential shifts simmering beneath the surface.
If HBAR can leverage the growing investor support, it could bounce from the local support level of $0.141 and potentially retest the $0.150 mark. A successful breakout from this level might pave the way for a move toward $0.162, particularly with rising inflows and diminished selling pressure.
Conversely, if investor confidence falters again, HBAR risks sliding toward the critical support level of $0.130. A drop below this threshold would nullify the current bullish-neutral outlook and could expose the price to further declines, potentially reaching as low as $0.125.
