HBAR Token Slides 2% Amid $6.42 Million Spot Market Outflows

HBAR, the native token of the Hedera Hashgraph network, has fallen 2.0% in the last 24 hours, bucking broader cryptocurrency market gains amid significant capital outflows. According to Coinglass data, over $6.42 million has been withdrawn from HBAR spot markets over the past three days, signaling a bearish shift in investor sentiment. The token is currently trading at $0.2663, confined within a tight horizontal trading channel between $0.2591 and $0.2667, with bears targeting the lower support level [1].

The capital outflows have coincided with deteriorating technical indicators. HBAR’s Chaikin Money Flow (CMF) stands at -0.07, a clear sign of negative momentum and increased selling pressure. The CMF, which integrates volume and price data, typically indicates buying interest when above zero and selling pressure when below zero. The current reading reinforces the trend of capital flight and weak market demand [1].

The outflows reflect a broader loss of confidence in HBAR among traders. Daily capital withdrawals have persisted across the three-day period, with investors shifting positions to alternative assets. This sustained exodus contrasts with the usual behavior of profit-takers, suggesting a more systemic reassessment of the token’s value proposition. As spot market outflows indicate a withdrawal of liquidity, HBAR’s inability to break above the $0.2667 resistance level further underscores the lack of bullish momentum [1].

Market activity also highlights an imbalance between buying and selling pressure. Volume data shows stronger bearish activity during key trading sessions, preventing HBAR from participating in the general cryptocurrency rally. Meanwhile, Bitcoin and other major altcoins have seen gains, pointing to asset-specific issues affecting HBAR. These challenges suggest concerns about the underlying fundamentals of the Hedera Hashgraph ecosystem, independent of broader market dynamics [1].

Looking ahead, the token faces critical price levels. A break below the $0.2591 support level could trigger further technical selling and extend the downward trend. Conversely, a reversal above $0.2667 resistance would open the door to the $0.2905 level, but such a move would require a notable shift in investor behavior and increased buying volume [1].

HBAR’s recent performance underscores the volatility inherent in the cryptocurrency market. While the current bearish trend is driven by capital outflows and technical weakness, the situation remains fluid. Sudden reversals can occur due to news events, regulatory changes, or shifts in institutional sentiment, adding an element of uncertainty to short-term price action [1].

Source: [1] HBAR Token Drops 2% as $6.42 Million Capital Outflows Signal Bearish Turn (https://coinmarketcap.com/community/articles/6899d40e727de70d11bece0f/)