Hedera (HBAR) is currently trading at $0.1236 after a 7.74% daily drop, with trading volume down 20.08% to $237.12 million, indicating reduced trader activity. Despite this decline, HBAR is still up 12.44% over the week, showing continued broader momentum.
Source: CoinMarketCap
Hedera Holds Bullish Flag Support
A prominent analyst, Jonathan Carter, highlighted that Hedera is responding to the downside of a bullish flag on a 3-day chart. He observed that the zone has served as a support level. He explained that the structure is active as long as the boundary exists.
Carter identified several upside objectives in case momentum rebounds. His levels are $0.14, $0.18, $0.23, $0.30, and $0.39. He said that the increasing volume favors the pattern continuation as long as the buyers apply the pressure.
Source: X
Moreover, another analyst, Trading Pro, mentioned the price response around the lower trendline of the same pattern. He noted that an established bounce can extend the current recovery effort. He further added that there is a possibility of movement toward $0.40 as long as the structure remains intact.
Source: X
Also Read: Hedera Hashgraph (HBAR) Gains Momentum as January Strength Sparks Q1 Breakout Hopes
RSI and MACD Signal Early Shift in Market Momentum
From a technical perspective, the Relative Strength Index now stands at 51.81 with the signal line at 45.97. The indicator lacks overbought or oversold. It indicates the neutral market conditions following the recent changes in prices.
The MACD value is indicating the beginning of a shift in momentum. The MACD line is at 0.00290, the signal line is at -0.00021, and the histogram is at -0.00311. Such numbers represent an emerging trend with both buyers and sellers striving to find direction.
Source: TradingView
Trading Volume Rises as Open Interest Decline
CoinGlass data shows that the trading volume increased by 4.18% to $357.35 million. The open interest decreased by 12.09% to $123.72 million. The OI-weighted funding rate stands at 0.0070%.
Source: CoinGlass
During the downward period, there was an increase in liquidations. In the last 24 hours, total liquidations were at $734.04K. Long positions comprised $661.72K. Short liquidations amounted to $72.32K. This data shows that long traders had the majority of the impact as the price moved down.
Source: CoinGlass
Hedera has already reached a critical technical area, prompting traders to monitor whether the bullish flag can hold and whether market activity will stabilize in the upcoming sessions.
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