HBAR, the token of Hedera Hashgraph, has seen a significant decline recently, breaking through a key support zone. Current market signals clearly indicate a worsening situation.
Breakdown Below Support Zone
The HBAR/USDT 4-hour chart reveals a confirmed breakdown below the $0.228–$0.232 horizontal support level. This area had previously served as a base for repeated retests but has now been breached, leaving short setups in play. Alpha Crypto Signal noted that unless this gray zone is reclaimed as support, further downside remains very likely.
Derivatives Market Signals Weak Momentum
The derivatives market reinforces this bearish outlook. Volume dropped by -34.03% to $277.18 million and open interest dropped -4.08% to $410.18 million. These drops are indicative of low activity and lower liquidity conditions. Such simultaneous declines in both volume and open interest often suggest waning conviction from both buyers and sellers, aligning with the spot market breakdown.
Long Traders Face Heavy Liquidations
On Binance, the long/short ratio by accounts stands at 1.4231, while on OKX the ratio is 1.05, reflecting majority long exposure. However, liquidation figures reveal a different story. In the past 24 hours, long liquidations totaled $473.21K, while shorts lost only $14.60K, indicating that price action has consistently punished long traders.
The situation surrounding HBAR indicates clear bearish pressure in the market, suggesting that traders should proceed with caution amid instability and potential losses.
