Hedera remains under strong pressure, marking another day of decline while traders continue to bet against Altcoin. It is negotiated at $ 0.18 at the time of the press, noting a price drop of 2% in the last 24 hours.
With its long / short ratio indicating an increase in interest, the feeling of the market has become more and more pessimistic.
Faced sellers tighten grip on Hbar
The long / short ratio of Hbar fell to 0.86, its lowest level in a month. This reflects a sharp increase in short positions among derivative traders.
The long / short ratio measures the proportion of long positions (Paris on price increases) to short positions (Paris on price reductions) on the market. A report lower than one means that there are more short positions than long. This indicates that traders are mainly downgraded on Hbar and refer to a higher probability of continuous movement.
In addition, the flow of Hbar’s negative Chaikin Silver (CMF) on the daily graph supports this downward perspective. This indicator, which measures how money moves in and out of the asset, is less than zero at -0.10 during writing.
Hbar’s negative CMF reading suggests a high sales activity, its sellers dominating the market and seeking to reduce prices.
Hbar traders are preparing for volatility while prices flirt with key levels
The growing demand for short positions highlights the expectations of investors in the additional descent, which argues concerns concerning Hbar’s ability to maintain the level of critical support formed at $ 0.17.
If he does not hold, the price of the token could fall to a lower $ 0.11, which he exchanged in November for the last time.
However, a resurgence of demand for Altcoin could invalidate this downward projection. If the buyers take over market domination and increase demand, Hbar could bounce around $ 0.22.
If Hbar successfully violates this resistance area, its price could reach $ 0.26.
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