HBAR Drops 1.63% as Short Bets Rise, Bearish Sentiment Dominates

HBAR, the native token of the Hedera Hashgraph network, has experienced a 1.63% decline in value over the past 24 hours, currently trading at $0.1445. This downturn is accompanied by an increase in short bets, with the derivatives market showing a clear tilt towards bearish positioning. The current long/short ratio for HBAR stands at 0.93, indicating that more futures traders are betting on price declines than rallies. A ratio below one suggests that bearish bets outnumber bullish ones, which often precedes further price drops if not met with strong demand from spot buyers.

The rise in short exposure coincides with HBAR's struggle to maintain its footing above $0.14. Technical indicators further confirm this negative outlook. The Elder-Ray Index, which measures the difference between price and the 13-day exponential moving average (EMA), currently reads -0.011 for HBAR. A negative reading suggests that bears are dominating the market, as the token is trading below its EMA. Typically, a positive Elder-Ray reading indicates bullish strength, with upward momentum likely to continue. However, a negative reading reflects ongoing selling activity, which could lead to further declines unless countered by renewed buying interest. HBAR’s bearish signals are being reinforced by this divergence between price and EMA, pointing to a potential trend continuation. The index has remained in negative territory since late June, coinciding with the asset’s consistent decline from its peak of $0.156 on 25 June.

If current selling pressure continues, HBAR could decline to $0.126, a support level last seen in April. This would mark a near 20% fall from its recent high and could test the resolve of long-term holders. A bounce at this level could signal accumulation, but without a clear catalyst, there is little on-chain evidence suggesting a reversal is imminent. The market’s mood remains cautious, and without stronger fundamentals or ecosystem developments, bulls may struggle to regain control in the short term.

Despite the growing pressure on HBAR, there remains a path to recovery. A move above $0.156—its recent peak—could trigger a trend reversal. This level also acts as key resistance, and any successful breach could open up the next upside target near $0.166. However, this scenario would require a significant uptick in both volume and sentiment. With traders currently leaning bearish and technical readings confirming the downtrend, bulls face an uphill task. The HBAR ecosystem has remained relatively quiet in terms of major announcements or new integrations, which might explain the lack of sustained upward momentum despite earlier price rallies. Until broader market conditions improve, HBAR’s path forward will likely hinge on support levels holding firm and sentiment shifting back in its favor.