Hedera's (HBAR) Value Plummets 20% Amidst Persistent Bearish Sentiment

Hedera (HBAR) has been experiencing a significant decline in its value since January 17, with a 20% drop in price. The altcoin has been trading below a descending trendline, indicating a persistent bearish sentiment in the market.

The price of HBAR has been on a downward trajectory, with the token currently trading at $0.31. This decline has been accompanied by a shift in market momentum, as indicated by the Awesome Oscillator (AO). The AO has posted only red histogram bars since January 21, suggesting that HBAR has been trailed by negative bias for some time.

If the selling pressure continues, HBAR could face an 18% decline, potentially dropping to $0.26. However, a positive shift in market sentiment could prevent this from happening, and a rebound in buying pressure could push the price back up towards its multi-year high of $0.40.