FatPipe's 15min chart shows Bollinger Bands expanding downward, bearish Marubozu pattern.

Based on the 15-minute chart of FatPipe, the Bollinger Bands have recently expanded downward, and a bearish Marubozu pattern emerged on May 8, 2025, at 10:45. This suggests that the market trend is currently being driven by selling pressure, indicating that sellers are in control and bearish momentum is likely to persist.

Berachain (BERA) and HBAR Face Continued Downtrend

In recent trading sessions, the cryptocurrency markets have witnessed significant volatility, with several notable tokens experiencing downward trends. Berachain (BERA) and HBAR are among the cryptocurrencies that have been particularly affected by bearish sentiment.

Berachain (BERA)

Berachain (BERA) has seen a substantial decline in its price, dropping 21% in a week and nearly 40% in the past 30 days. As of press time, BERA is trading at $2.88, down more than 80% from its peak of $14.83 and roughly 68% from its most recent local peak of $8.94 on Mar. 29 [1]. The sharp drop came after the Boyco Vaults pre-launch liquidity program unlocked $2.7 billion in total value locked on May 6, leading to increased selling pressure and market volatility [1].

The technical indicators paint a grim short-term picture for BERA. The Relative Strength Index (RSI) is well into oversold territory at 28.67, suggesting that bearish momentum may be overextended but not necessarily exhausted [1]. However, if selling pressure persists, BERA risks a breakdown below $2.80, potentially retesting $2.50, a key psychological level and likely next support [1].

HBAR

HBAR has also faced a 7% decline this week amidst a recovering crypto market, highlighting the token’s ongoing struggles [2]. The coin’s performance issues are underscored by its current RSI, which indicates a bearish market sentiment. Notably, market analysts emphasize that HBAR’s trading below a critical descending trend line could lead to further price decreases [2].

The RSI, which assesses an asset’s potential overbought or oversold conditions, is currently measured at 43.38, indicating persistent selling pressure [2]. The Balance of Power (BoP) for HBAR stands at a negative -0.27, indicating that the market is firmly in favor of sellers [2]. This negative BoP reinforces concerns of continued decline in HBAR’s price until there is a shift in market sentiment [2].

Market Sentiment and Technical Indicators

The broader crypto market shows signs of slight recovery, but several key tokens continue to face downward pressure. The recent emergence of a bearish Marubozu pattern on the 15-minute chart of FatPipe on May 8, 2025, at 10:45, suggests that the market trend is currently being driven by selling pressure, indicating that sellers are in control and bearish momentum is likely to persist [3].

Conclusion

In summary, Berachain (BERA) and HBAR are experiencing significant bearish sentiment, indicated by their declining RSI and negative BoP. The tokens’ struggles below critical support levels suggest that further price declines are anticipated. Traders are advised to remain vigilant as market conditions continue to evolve.

References

[1] https://crypto.news/berachain-drops-21-in-a-week-after-2-7b-unlock-can-bulls-defend-this-critical-support-zone/
[2] https://en.coinotag.com/hbar-faces-continued-downtrend-amid-bearish-indicators-suggesting-potential-declines-to-0-12/