Following a period of downtime, Hedera has resumed operations. HBAR suffers a liquidity exit that has driven its price down. Following several hours of downtime on 10 March due to an exploit of the Smart Contract Service code of its mainnet, Hedera network has resumed operations. Aaaaaand we're back! https://t.co/sUahtuSoA4 – thank you all so […]
Similar to the overall increase in the cryptocurrency market at the start of the year, the price of HBAR also rose to a high of $0.088 on 20 February and has since experienced a decline.CoinMarketCapAs observed on a daily chart, the decline in HBAR’s value since 20 February ushered in a new bear run. A look at the alt’s Moving average convergence/divergence indicator showed the intersection of the MACD line with the trend line in a downtrend on 20 February and has since been so positioned.
As HBAR’s price fell, the bears regained their strength, causing them to take control of the market. This position was proved by the alt’s Directional Movement Index .At press time, the sellers’ strength at 26.77 was solidly above the buyers’ at 11.52. Additionally, the Average Directional Index at 32.28 showed that the sellers’ strength was a rock-hard one that buyers might find impossible to revoke in the short term.
HBAR’s price traded close to the lower band of its Bollinger Bands indicator at the time of writing. While this would typically suggest that the asset was oversold and may be due for a price increase, a look at the token’s Chaikin Money Flow confirmed increased liquidity exit from the HBAR market. At a negative -0.09 at press time, the CMF has to reclaim its spot above the centerline for HBAR’s price to log any significant price rally.Subscribe to get it daily in your inbox.
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