HBAR Traders Struggle, Bitcoin Link Threatens More Losses | Airdrop Alert Pro

Hedera (HBAR) has experienced a modest recovery over the past few days, but is still facing bearish clues from a wider market.

Altcoin has been trying to violate key price barriers but struggles with ongoing negative sentiment, especially in futures market. Market conditions remain challenging, which makes the outlook for HBAR uncertain.

Hedera Trader Not Confirmed

Now, HBAR is displaying Inverse correlation with Bitcoin, located at -0.03. This suggests that while Bitcoin may be trying to recover, HBAR is unlikely to follow its lead. Instead, AltCoin can move in the opposite direction.

HBAR may drop further as Bitcoin goes to the brink of potential growth, especially in the daily chart.

The correlation reflects that the price movement of HBAR may not be consistent with Bitcoin’s behavior. As Bitcoin continues its recovery efforts, wider cryptocurrency market sentiment may affect HBAR prices in a contrasting way. The negative correlation between HBAR and Bitcoin makes it susceptible to variable pressures from larger markets.

In addition to its correlation with Bitcoin, the macro momentum of HBAR is also affected by negative funding rates. The funding rate has been fluctuating and is still negative.

This suggests that traders tend toward short contracts and expect prices to drop further. The continued lack of a strong recovery in HBAR has exacerbated bearish sentiment as traders hope to take advantage of any potential recession.

The continuous negative capital rate reflects the market Short-term price of HBAR action. As traders are further down their bets, altcoins are under pressure to overcome these pessimistic views. Without a large amount of bullish catalysts, HBAR may struggle to get rid of this bearish trend in the near term.

HBAR price challenges

When writing, HBAR price is being traded Facing a $0.246 effort, it sells for $0.246. AltCoin support has remained at $0.222 for some time and is likely to continue at this level. However, nearly $0.250 resistance remains a barrier to breakthroughs, which could prevent significant progress from HBAR.

Given the current market conditions, HBAR is expected to consolidate between $0.222 and $0.250, as it did in the past. This merger can continue, further delaying any recovery and preventing altcoins from reaching higher levels. Bearish sentiment in the broader market may further limit HBAR’s price action.

But, if HBAR Management To violate the resistance level of $0.250 and pour support of 0.267 into support, this may indicate a shift towards a bullish trend. In this case, Altcoin could rise to $0.314, effectively invalidating bearish papers and laying the foundation for a more substantial recovery.