HBAR Breaks Free From Bitcoin’s Gravity—Then Plummets 11% in Market Shakeup
HBAR just staged a cosmic decoupling from Bitcoin—only to crash-land moments later. The altcoin's bold move away from crypto's mothership triggered instant sell pressure, wiping 11% off its value in a brutal reality check.
When Alts Go Rogue
Market watchers saw this coming—HBAR had been riding Bitcoin's coattails for months. But independence comes at a cost. The sudden price drop exposed the fragile psychology of altcoin traders, who'll panic-sell at the first sign of uncharted territory.
Finance's eternal lesson: what goes up must come down—especially when you're not Bitcoin. The 'uncorrelated asset' narrative took another hit today, proving once again that in crypto, gravity always wins. Eventually.
HBAR Investors Pull Back
The Chaikin Money Flow (CMF) for HBAR is currently sitting at a near 4-week low, close to the zero line. This suggests that investor outflows are dominating, with a significant shift from accumulation to selling. A drop below the zero line on the CMF WOULD confirm that selling pressure is overwhelming the buying interest.
The current market sentiment is characterized by investor uncertainty. The weakening CMF reading highlights the lack of confidence in HBAR’s price potential in the NEAR term. As HBAR faces these outflows, the altcoin could face a steeper decline.
The broader market momentum for HBAR is heavily influenced by its correlation with Bitcoin. Currently, the correlation between HBAR and BTC is at a near 2-month low. This weakened correlation is a double-edged sword for HBAR as it could benefit from Bitcoin’s price drop, but any rally in BTC could negatively impact HBAR’s price.
The diminished connection to Bitcoin leaves HBAR more exposed to independent price action. With investor sentiment shifting and external market factors playing a larger role, HBAR’s price might experience more ups and downs, depending on the direction BTC takes.
Can HBAR Rise To $0.30?
Currently trading at $0.258, HBAR is in a vulnerable position after the recent 11% drop. The altcoin is sitting just above key support levels, and further decline is possible. A drop to the $0.236 support level seems likely, especially with the current market conditions and investor sentiment.
If the downward trend persists, HBAR could continue to consolidate between $0.236 and $0.276. These price levels may provide some stability, but they also represent areas of significant resistance. A prolonged consolidation phase could trap HBAR within this range, with little upward movement in the short term.
However, if market conditions reverse, HBAR might manage to reclaim the $0.276 level as support. This would open the door for a potential price surge toward $0.300. Whether it breaches this resistance remains uncertain, but a shift in sentiment could drive HBAR toward higher levels.
