Is HBAR Price’s Rise to 2024 High With A 40% Likely? | Airdrop Alert Pro

Hedera (HBAR) has struggled to gain momentum in recent weeks, reflecting a lack of direction in a highly uncertain cryptocurrency market. This indecision has made investors cautious, making it difficult for them to take a clear stance on the potential of altcoins.

HBAR’s price has remained range-bound, further fueling uncertainty about its short-term outlook.

HBAR investors unsure

Market sentiment for Hedera remains subdued, as indicated by Chaikin Fund Flow (CMF). Over the past two weeks, the CMF has continued to hover below the zero line, indicating that capital outflows continue to exceed inflows. The trend highlights continued hesitation among investors, who appear unwilling to inject significant liquidity into the asset if it underperforms.

The continued bearish CMF data highlights broader concerns about altcoins’ inability to generate bullish momentum. This hesitancy among market participants HBAR trapped During the consolidation phase, prevent any decisive moves that might restore investor confidence in the short term.

HBAR’s broader momentum Reflecting an intensification of the bearish trend. Relative Strength Index (relative strength index) This key technical indicator has been declining steadily over the past month. This downward slope indicates that selling pressure is increasing, further weakening the altcoin’s position.

The RSI’s move below the 50.0 neutral line is particularly concerning as it confirms the dominance of bearish sentiment. Unless this trend reverses, Hedera is likely to face additional challenges, potentially exacerbating the uncertainty currently shrouding its price action.

HBAR Price Forecast: Breakout from Consolidation

ivy price It has been consolidating between $0.33 and $0.25 for the past month, with little sign of a breakout. This secular stagnation has heightened investor uncertainty. lack volatility Making it difficult to predict where altcoins will go next.

If current indicators persist, HBAR may lose support at $0.25. A breach of this key threshold could push the price down to $0.18. This would further confirm the bearish momentum seen in recent weeks.

However, a shift in market sentiment could lead to a more optimistic scenario. If the broader cryptocurrency market trend turns bullish, HBAR possible It broke the $0.33 resistance level. In this case, the altcoin could target $0.39, which would represent a 40% upside. This would push HBAR toward 2024 highs and effectively invalidate the bearish outlook.