HBAR Price Drops 10%, Short Positions Surge
Hedera Hosgraph’s HBAR has been captured in a broader market downward trend, reducing its value by 10% in the past 24 hours. At press time, Altcoin traded at $0.22.
This double-digit decline leads to a surge in the shortage of HBAR futures The market, as a trader, is expected to suffer further losses.
HBAR short seller control
Beincrypto’s evaluation HBAR’s length/short ratio Confirm the bearish bias against it in its futures market. At the time of writing, the ratio is 0.96.
The length/short ratio of the asset compares the number of its long positions (the price will rise) with the short (the bet where the bet price drops). When the ratio is higher than 1, the length of the short position is longer, indicating that the trader is mainly betting on the rise in price.
On the other hand, like HBAR, below one ratio indicates that traders are betting on price declines to a large extent. This marks a strong bearish sentiment in the market, increasing expectations for further shortcomings.
In addition, readings of technical indicators such as Chaikin currency flow (CMF) reflect sales activities in the HBAR spot market. At press time, this momentum indicator is below zero of -0.08 With a downward trend.
CMF indicators measure capital inflows and exit assets. When it returns a value below zero, the market will be allocated by the seller, putting huge downward pressure on the assets. This shows that HBAR is ready to extend its price decline in the near term as the sell-off strengthens.
HBAR price Forecast: Bearish momentum may raise tokens to $0.16
HBAR trading price is $0.22 And face resistance of level 0.24. Due to bearish bias against Altcoin, its value may continue to decline. In this case, HBAR risk declined with support at $0.20.
Rests below this level may lead to further Falling to $0.16.
On the other hand, if the bullish momentum returns to the market, HBAR may initiate a rally of resistors above $0.24. If this level is violated, it could climb further to $0.28.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
