Hedera hashgraph’s crypto presence called Hbar has been watching a horizontal course for the last four days. Despite the rise observed throughout the market, HBAR’s value fell by 2 percent in the last 24 hours. This led to a remarkable negative atmosphere among investors.
Capital outputs and price pressure in HBAR
HBAR’s capital outlets in the spot market led to significant sales pressure on the entity. According to Coings data, a total of 6.42 million dollars of spot output in HBAR in the last three days took place. These developments show that investors are more cautious about HBAR in the short term.
Spot’s capital outputs from the market often emerge by investors’ existence and shifting their funds to other fields. This tendency means weakening of demand for an asset and usually causes prices to move downward. Analysts say that the daily exits that have been going on for three days, the uncertainty around Hbar and the investor indecision have grown.
In the Coings report, “Continuous exits in HBAR are directed to the sales side of the investors and point to uncertainty in the market”.
The decline in market indicators continues
Technical indicators also confirm the weakening in Hbar. Especially in the Chaikin Money Flow (CMF) indicator, the negative course stands out in daily graphics. As of the publication of the news, this indicator is at -0.07 and a downward tendency.
HBBAR’a technical assessment, “negative CMF reading, investors’ interest interest decreased, sales pressure increases,” the statement took place.
The CMF indicator is used to understand whether the money is entering the existence by measuring the purchase and sale pressure of the asset at a certain period of time. In positive CMF values, the entry of money to assets increases, while the transition to negative values indicates that sales weight increases. The current negative indicator of HBAR is thought to be investors tend to exit the existence and this may increase pressure on the price.
Experts point out that HBAR is traded on a horizontal band and that the asset may hang below the current support level in case of continuation of the current wave of sales. The prominent support level in price analysis is expressed as 0.2591 dollars.
Technical Analysis Specialist, “If the sales pressure continues HBAR 0.2591 dollar support may decline,” he evaluated.
Currently, HBAR is traded at $ 0.2663. This price is located just below the upper band of the horizontal channel. If the sales pressure increases, investors expect the price to decline to $ 0.2591.
However, according to some experts, if there is a recovery on the purchase side, the price of HBAR may exceed the resistance level and increase to $ 0.2905. In such a case, the investor’s interest may revive and change the direction of the price.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
