Hedera (HBAR) recorded an impressive 17% rally in the past 24 hours, successfully recovering all its October losses. The sudden surge has sparked optimism across the market, yet investor sentiment remains cautious.
While technical indicators hint at a potential continuation, holders are showing mixed signals despite the strong price rebound.
Hedera Investors Show Doubt
The Squeeze Momentum Indicator shows that Hedera is currently entering a buildup phase after more than a month of relative inactivity. This is signified by the appearance of black dots on the chart, indicating compression in volatility. Historically, such squeezes precede major breakouts once momentum shifts either bullish or bearish.
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If this squeeze releases under bullish momentum, HBAR could benefit significantly. Given the recent uptick in price, a bullish breakout could propel the altcoin toward new short-term highs.
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Despite the strong price performance, HBAR investors are still exhibiting bearish momentum. The sentiment indicator remains below the neutral 50 mark, signaling a lack of conviction among traders.
This negative outlook likely stems from the altcoin’s previous struggles to sustain gains earlier in the month. While the 24-hour rally showcases technical recovery, broader sentiment has yet to follow.
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Author: Aaryamann Shrivastava
