HBAR Traders Pull $150 Million Out of Futures Even As Price Hints At a New High

Hedera’s native token, HBAR, has faced a sharp decline after failing to breach the $0.40 resistance level. The altcoin recently retraced to $0.25, a significant drop that has left traders uncertain. 

While this correction may signal bearish sentiment in the short term, the broader macro outlook remains highly bullish. However, for HBAR to reclaim momentum, it must navigate the growing hesitation among market participants.

HBAR Traders Are Uncertain

The market’s reaction to HBAR’s recent downturn is evident in the Futures market data. Open Interest currently stands at $216 million, a sharp decline from $367 million just three days ago. This $150 million drop highlights the hesitancy among traders, many of whom are liquidating positions.

The contraction in Open Interest suggests a shift toward bearish sentiment. Traders are moving out of leveraged positions, signaling decreased confidence in a near-term recovery. As a result, unless a resurgence in interest occurs, HBAR’s price action could remain subdued.

From a technical perspective, HBAR’s macro momentum reflects a strengthening bearish trend. The Relative Strength Index (RSI) has dropped to a three-month low, last seen in November 2024. Currently sitting below the neutral 50.0 level, the indicator highlights growing downside pressure.

The falling RSI suggests sellers are gaining control, making it more challenging for bulls to push prices higher. If this downward momentum continues, it could suppress any breakout attempts, keeping HBAR range-bound for an extended period.

HBAR Price Prediction: Finding A Breach

Despite the short-term bearish pressure, HBAR is forming a macro bull flag pattern, historically a precursor to substantial rallies. If this setup plays out, the altcoin could see a 684% surge, targeting $2.83. However, for this rally to materialize, HBAR must decisively break through the $0.40 resistance.

In the near term, the probability of an immediate breakout remains low. However, a successful breach of $0.40 could fuel a rally toward $0.47, confirming a breakout from the bull flag pattern and paving the way for higher price targets.

The only way to invalidate this bullish outlook is for HBAR to fail to breach $0.40. This would result in the price likely continuing consolidation within the $0.25 to $0.40 range. If downward pressure intensifies, HBAR could lose support at $0.25, triggering a further decline toward $0.18.