HBAR Technical Setup Puts $30 Million in Bullish Bets at Risk

Hedera’s native token, HBAR, is facing a challenging technical setup as bearish signals intensify. The altcoin has been stuck in a persistent downtrend, raising concerns about further losses. 

If selling pressure continues, the decline could extend into the Futures market, putting millions in bullish contracts at risk.

Hedera Traders Are In Danger

According to the Liquidation Map, HBAR could face significant pressure if its price slides to $0.200. At this level, nearly $30 million worth of long positions are vulnerable to liquidation. Such a move would undoubtedly rattle traders who have remained optimistic despite the recent market downturn.

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These potential liquidations could weaken overall sentiment as leveraged traders may scale back on exposure. If the price continues to hover near the liquidation trigger zone, bullish confidence may fade. 

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From a technical perspective, momentum indicators are signaling a bearish tilt. The Relative Strength Index (RSI) has slipped below the neutral 50.0 mark, showing that sellers are in control. A further dip in the indicator would confirm increasing downside momentum, reinforcing the likelihood of price weakness.

The loss of momentum highlights that HBAR is not gaining enough buying pressure to offset selling activity. Unless market conditions improve quickly, bearish sentiment could dominate. Without renewed demand, the altcoin risks slipping into deeper declines before any signs of recovery surface.

HBAR Price Faces Decline

At the time of writing, HBAR is trading at $0.212, showing clear signs of weakness. The descending wedge pattern suggests the token could retest the lower trend line, signaling further short-term downside. This aligns with the overall bearish sentiment surrounding the market.

The key support sits at $0.202, a level that, if breached, may trigger the $30 million in long liquidations. Such a development would put added pressure on HBAR holders. While recovery may come later, the immediate outlook remains pessimistic unless conditions change quickly.

However, a shift in momentum could alter the narrative. If HBAR price reclaims $0.219 or even $0.230 as support, it would invalidate the bearish thesis. This would provide traders with renewed optimism and the chance for a potential recovery.