Hedera prices have struggled to recover over the past week, despite broader market conditions briefly improving before turning bearish again.
HBAR attempted to rally towards its recent highs, but the broader market pullback dragged it lower, revealing just how heavily dependent altcoins are on Bitcoin movements.
Hedera has a problem with the name Bitcoin
The correlation between HBAR and Bitcoin remains very strong at 0.87, only slightly down from last week’s peak. This close correlation means Hedera is closely monitoring BTC price movements, which is not ideal at a time when Bitcoin itself is stuck around $86,000.
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Bitcoin’s struggle to regain bullish momentum is directly impacting Hedera and preventing a meaningful rebound. The lack of independent strength makes HBAR more vulnerable to Bitcoin-driven volatility.
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Macro momentum in HBAR shows further weakness, especially in Chaikin Money Flow (CMF), which recently fell to a seven-month low. The indicator has slipped into the 0.18 to 0.23 range, an area where outflows typically slow and inflows begin, providing an opportunity for the altcoin to stabilize.
However, this cycle is different. The overall bearish mood in the market appears to have overridden the usual reversal signals, as the CMF fell below 0.18 before rising slightly. This shows that investors are still pulling money out of HBAR despite conditions that have historically been favorable for a rebound.
HBAR price needs a push
HBAR is trading at $0.132 at the time of writing, just above the $0.130 support level. This level serves as an important floor and remains essential in preventing further declines.
If market weakness continues, especially if Bitcoin falls further, HBAR could continue to consolidate between $0.130 and $0.150. A break below $0.130 could push the price towards $0.120 and extend the bearish trend.
However, if Bitcoin manages to recover, HBAR may as well. A rebound from $0.130 could bring the altcoin back to $0.150. If this resistance level turns into support, it will open the way to $0.162 and invalidate the bearish outlook.
