While the crypto currency market had turbulent days, HBAR gave a surprise rise to its investors. The price of HBAR rose by 20 %with NASDAQ to apply to the US Securities and Stock Exchange Commission (SEC) ETF. However, market indicators indicate that this excitement may be short -term.
HBAR: Is the excitement of purchasing reversal?
The enthusiasm of HBAR investors began to disappear rapidly. Because the purchasing power that supports the price is gradually decreasing. The Balance of Power (BOP) indicator showing this situation is currently at a negative level with -0.09.
The BOP indicator reveals whether buyers or sellers are stronger in the market. Negative values show that sellers are more dominant. This strengthens the possibility that prices may experience a decrease in the short term.
HBAR: The signal from the futures scares
According to the latest analysis of Kriptokoin.com, HBAR’s futures market does not go well in the market. According to Coings data, the Long/Short ratio decreased to 0.98. This shows that short positions are more dominant than long positions.
Long positions reflect the expectation that prices will rise. However, the dominance of short positions indicates that investors think that prices will fall. Therefore, the negative weather in the market indicates that the price of HELA may be under pressure in the near future.
Critical level alarm in Hedera price!
Hbar is currently trading around $ 0.24. The closest support level in the graphics is located at $ 0.22. If the sales pressure continues to increase, this support may be broken and the price may quickly decrease to $ 0.17.
However, if a new purchase wave comes to the market, the situation may be reversed. In this scenario, the price may first exceed the resistance point in $ 0.26. Then the price of HBAR can make a new rally towards $ 0.31.
Critical period for investors begins!
HELA investors are currently following the market. Will this rise, which started with Nasdaq’s application for ETF, be a short -term dream? Or will HBAR investors come out of this crisis? Developments in the market will answer these questions in a short time.
