#Trading Strategy Sharing  Frightening Signals from HBAR Coin: Is Hedera’s Uptrend Over?

HBAR has been experiencing a recent price decline, and traders’ optimism is also a sign of a downtrend.

This downtrend, combined with decreasing bullish signals, suggests that the altcoin could enter a longer period of price decline.

HBAR Traders Split: What Do Funding Rate and RSI Signal?

Over the past 10 days, HBAR’s funding rate has changed from positive to negative twice, the first time this month. This sentiment change suggests that traders are adjusting their positions and preferring short positions over long positions.

The increasing dominance of short positions suggests that market participants are expecting further price declines. This change indicates that traders are losing confidence and are now expecting a decline in HBAR’s value.

From a macro perspective, HBAR’s technical indicators have also started to trend lower. The Relative Strength Index, which entered bearish territory towards the end of May, reached a two-month low this week.

The decline in the Relative Strength Index is a strong indication that HBAR is facing increasing selling pressure. As momentum weakens, the likelihood of further declines in HBAR’s price increases.

This technical signal, combined with the negative funding rate, suggests that HBAR may continue to struggle in the near term, with the potential for further declines if current conditions persist.

Critical Crossroads for HBAR

Currently, HBAR’s price is trading at $0.168, just below the $0.172 resistance. Given the mixed market sentiment, bearish indicators, and the diminishing bullish trend, the price is likely to fall.

The $0.172 resistance remains a major hurdle for HBAR, and failure to break through this level could further fuel price weakness.

If the $0.163 support level cannot be maintained, HBAR could fall further. It could possibly reach $0.154. This decline would extend current losses and signal a deeper downtrend. This could prompt more traders to reconsider their positions, further fueling the downtrend.

However, if HBAR manages to break out of the $0.172 resistance level, it could head towards the next resistance level of $0.182.

A successful breakout of this level will build confidence among traders and investors, reverse the current downtrend, and invalidate the negative outlook for HBAR.