HBAR Price Falls 18% A Week After Losing Its Month-Long Support

Core Insights - Hedera's HBAR has experienced a significant price drop of over 18%, falling to $0.130 after breaking below a crucial support level that had been in place for more than a month [1][6]. - The correlation between HBAR and Bitcoin is currently at 0.97, indicating that HBAR is closely mirroring Bitcoin's price movements [2][3]. - Macro momentum indicators, such as the Chaikin Money Flow, are at an eight-month low, suggesting heavy capital outflows from HBAR [4][5]. Price Analysis - HBAR's price decline has exposed it to deeper losses and increased volatility, with potential further drops to $0.120 and possibly $0.110 if bearish sentiment continues [6][7]. - A recovery attempt for HBAR would require a move above $0.133, with a breakthrough past $0.145 potentially restoring investor confidence and invalidating the current bearish outlook [8].