Despite the broader market raising this week, the Native token of the hedera Hbar has sprung up, registering a 5% decline in the past seven days.
Through the Bearish Momentum Building, the HBAR token is now threatened to return to low years.
HBAR slides below the main indicators
HBAR's collapse comes from many leading cryptocurrencies posting modest acquisitions this week, reflecting its difference from the general sentiment in the market.
Readings from the HBAR/USD chart a day chart suggest that this trend may continue in the short term. For example, as this writing, HBARs traded under the dots that make up the parabolic SAR (stop and reverse) indicator.
This indicator measures the price trends of an asset and recognizes potential entries and exit points. When the price of an asset is below SAR, it indicates a downtrend. It suggests that the market is in a bearish phase, with the potential for additional price dips.
Supporting this perspective, HBar's Chaikin Flow (CMF) remains in the negative territory, which has signed a refusal to buy volume and a growing availability of sellers on the market. It is currently standing at -0.07.
The main indicator of this momentum is measuring the money flowing inside and out of a property. A negative reading of CMF, such as HBAR, signals that sell pressure dominate the market. This means that more investors are offloading the token than its accumulation, a pattern associated with a weak price trend.
HBAR Tests 20-Day EMA: Is it holding or broken to $ 0.12?
The daily chart shows HBAR collapse pushed it near the 20-day exponential transfer of average (EMA). The main average transfer of the average measures the average price of an asset over the past 20 days of trading, giving weight to recent changes.
When the price drops near the 20-day EMA, it indicates a potential level of support tested. However, if the price is damaged under EMA, it can confirm the sustainable bearish momentum and more falling risk.
Therefore, the HBAR rest below the 20-day EMA can reduce its price on the year-to-date low $ 0.12.
However, if demand rockets and HBAR are bouncing from the 20-day EMA, its price can rally above $ 0.19.
Refusal
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