HBAR price is near $0.118, up about 2% today but still down about 18% this month. The broader structure is fragile and the chart still suggests a continuation of the downtrend as a consequence of a breakout pattern.
Despite this risk, buyers are reluctant. Dip buying and early on-chain shifts will now determine whether HBAR avoids a deep correction.
Puncture risk meets dip buying support
HBAR's every day chart still shows a bearish pole and flag pattern. If the value loses $0.108, the breakdown could open the door to a 31% decline based on the pole projection.
Want more token insights like this? Sign up for Editor Harsh Notariya's every day crypto newsletter here.
Hedera Price Risk: TradingView
Dip buyers are attempting to disrupt that. The Money Flow Index (MFI), which measures inflows and outflows based on price and volume, has diverged bullishly from price.
Between December ninth and December twenty ninth, the value of Hedera (HBAR) trended downward while MFI trended upward. This shows that buyers intervene during downturns slightly than allowing the collapse to proceed.
A divergence is just not a guarantee of a recovery, however it does signal a return of demand to necessary levels. This could possibly be a reason why HBAR found support on the lower bear flag trendline and attempted a bounce.
Derivatives positioning shows early doubts and quiet support
Positioning in derivatives also explains why the structure has not yet collapsed. At first glance, the general positioning of the 30-day offenders appears to be biased towards the short term.
Smart money continues to be net short over the past 30 days, but the quantity of short exposure has began to shrink. Consistent offender winners are also net shorts, but they’re opening recent long positions, almost 14% over 30 days. These groups often rotate early before changing direction.
The top 100 addresses and whales are still net long, although their exposure has decreased.
HBAR offender: Nansen
This creates an uneven image. Most traders predict a downtrend, however the decline in brief build-up and existing long positioning suggests some consider the collapse could be avoided.
HBAR price levels will determine whether the collapse will last
HBAR is near critical values.
$0.108 is the cutout. The loss confirms the bear flag. Below this, $0.102 is the ultimate support before the 31% continuation goal path strengthens.
Buyers must first get $0.120 back. Above $0.126, the momentum shifts enough to break the flag structure. A move above $0.139 will cancel the pattern and restore a neutral to bullish bias. Currently, HBAR price is balanced between each outcomes, with bearish pressure still taking center stage.
HBAR needs a move of around 6.9% to reclaim $0.126 and break the short-term downtrend. If this happens while MFIs maintain their divergence and derivatives shorts proceed to shrink, the dreaded collapse may not occur.
The post HBAR Faces 31% Default Risk – Dip Buys Try to Push Back appeared first on BeInCrypto.
Article source: beincrypto.com
The post “HBAR Faces 31% Default Risk – Dip Buys Try to Push Back” appeared first on Crypto Adventure.
