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HBAR Price Struggles Near Support as Market Volatility Rises
Hedera’s native token, HBAR, continues to follow the broader cryptocurrency market’s downward trend, reflecting persistent selling pressure over recent weeks. Market analysts suggest that unless investor momentum improves, HBAR may remain under significant strain.
Strong Correlation with Bitcoin Amplifies Volatility
HBAR’s price movement remains closely tied to Bitcoin, with a correlation coefficient currently at 0.94. This near-perfect alignment means “any major move in Bitcoin tends to cascade into Hedera’s trajectory,” intensifying volatility for the altcoin. Recently, Bitcoin’s drop to $111,600 over 24 hours dragged the entire crypto market lower, pushing HBAR toward new lows.
Chaikin Money Flow Shows Unexpected Investor Interest
Despite the bearish market environment, Hedera is seeing a notable increase in capital inflows. The Chaikin Money Flow (CMF) indicator reveals “an unexpected spike in inflows,” suggesting renewed investor interest as prices hover near two-month lows. Such inflows can act as a buffer, potentially slowing losses and supporting price stabilization.
Price Consolidation and Outlook
At press time, HBAR is trading around $0.222, just above its support level of $0.219. The token recently hit a two-month low before a slight recovery eased the decline. However, bearish sentiment remains strong, and HBAR is expected to consolidate sideways within the $0.230 to $0.213 range amid ongoing market uncertainty.
Potential for Shift if Investor Support Grows
If inflows continue and buying pressure strengthens, HBAR could flip the $0.230 resistance into support. This shift “could propel the token toward $0.242,” breaking its current downtrend and challenging the bearish outlook. Until then, caution remains as the market navigates volatility tied closely to Bitcoin’s performance.
