Investors Offload HBAR as Indicators Point to More Declines
Market data confirms a consistent decline in HBAR‘s Accumulation/Distribution (A/D) Line since early March. A/D Line refers to money flowing in or out of an asset relative to the asset’s price and volume traded. A decreasing A/D Line translates to building selling pressure where there are more investors who are keen to sell compared to holders and buyers who desire to maintain or acquire the token.
Adding to the concern, HBAR’s Relative Strength Index (RSI) has fallen to 40.10. A value below 50 reflects stronger selling momentum, and a continued drop toward 30 could suggest either oversold conditions – potentially hinting at a reversal – or further losses ahead.
Key Support at $0.16 Looms Large
If selling pressure persists, HBAR’s price is likely to keep falling, with $0.16 serving as the next significant support level. Should that level give way, the token could see a deeper decline to $0.12.
On the other hand, if demand for purchasing is revived, HBAR can recover to $0.24. However, the market is still subdued, and a massive turnabout would rely on a sharp turnaround in investor sentiment.
