The derivatives market shows a clear tilt towards bearish positioning.
HBAR’s current long/short ratio stands at 0.93, indicating that more futures traders are betting on price declines than rallies.
This metric is commonly used to measure sentiment in the futures market.
A ratio below one suggests that bearish bets outnumber bullish ones, often preceding further price drops if not met with strong demand from spot buyers.
This rise in short exposure comes as HBAR struggles to maintain its footing above $0.14.
Technical indicators weaken
Technical indicators confirm this negative outlook. The Elder-Ray Index, which measures the difference between price and the 13-day exponential moving average (EMA), currently reads -0.011 for HBAR.
A negative reading suggests that bears are dominating the market, as the token is trading below its EMA.
Typically, a positive Elder-Ray reading indicates bullish strength, with upward momentum likely to continue.
However, a negative reading reflects ongoing selling activity, which could lead to further declines unless countered by renewed buying interest.
HBAR’s bearish signals are being reinforced by this divergence between price and EMA, pointing to a potential trend continuation.
The index has remained in negative territory since late June, coinciding with the asset’s consistent decline from its peak of $0.156 on 25 June.
Price heads lower
HBAR is currently trading at $0.1445, down 1.63% in the past 24 hours.
The altcoin’s value has slipped steadily from its late-June high of $0.156, tracking broader market weakness and reduced investor interest in mid-cap assets.
Source: CoinMarketCap
If current selling pressure continues, HBAR could decline to $0.126, a support level last seen in April.
This would mark a near 20% fall from its recent high and could test the resolve of long-term holders.
A bounce at this level could signal accumulation, but without a clear catalyst, there is little on-chain evidence suggesting a reversal is imminent.
The market’s mood remains cautious, and without stronger fundamentals or ecosystem developments, bulls may struggle to regain control in the short term.
Breakout needed
Despite the growing pressure on HBAR, there remains a path to recovery. A move above $0.156—its recent peak—could trigger a trend reversal.
This level also acts as key resistance, and any successful breach could open up the next upside target near $0.166.
However, this scenario would require a significant uptick in both volume and sentiment.
With traders currently leaning bearish and technical readings confirming the downtrend, bulls face an uphill task.
The HBAR ecosystem has remained relatively quiet in terms of major announcements or new integrations, which might explain the lack of sustained upward momentum despite earlier price rallies.
Until broader market conditions improve, HBAR’s path forward will likely hinge on support levels holding firm and sentiment shifting back in its favour.
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