HBAR has recently faced outflows worth $17 million from its spot market. In the meantime, there has been only one major inflow of $1.78 million on Jan 19. CoinGlass data updates suggest.
Impact of the Outflows
This is a high pace of outflows. It suggests that selling pressure is pestering. In the meantime, the traders can’t rely on HBAR as a long-term investment. A lot of retail investors are planning to liquidate their positions.
So, none of the primary asset holders will be stocking further. Having said that, there are other reasons why HBAR can face backlash.
HBAR Might Not Hold Below $0.20
Great news!
After years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase. Once approved by the Commission (which we’re told to expect next week)… pic.twitter.com/IlnoBs7N6n
— Brian Armstrong (@brian_armstrong) February 21, 2025
January 17 was the day when HBAR reached its annual high of $0.40. However, an imminent downfall followed. The coin lost a staggering 48% of its value. Experts say that a downfall is not as tragic.
However, it’s been 30 days or so. Meanwhile, there are no major signs of recovery from HBAR. Currently, the price limit of HBAR is $0.21. The support price of the coin is adjacent ($0.20). But if the price falls further, the next support comes at around $0.17.
If the same pressure continues, HBAR will fall for sure. However, none of the market players are vouching for the coin now. To them, a drop is as sharp as a market rejection. Hence, they won’t be placing big bets on a coin like this.
Traders’ Intake
For now, the position of HBAR remains vulnerable. All investors should be watchful, at least for the next 3 months. If further downsizing happens, it’s going to be a genuine red flag for the coin!
