HBAR has recently experienced a decline in price, as traders’ optimism fades, marking a shift towards bearish sentiment. 

This downward trend, combined with fading bullish signals, suggests that the altcoin may be heading for a more prolonged period of price declines.

HBAR Traders Are Uncertain

In the past 10 days, HBAR’s funding rate has seen two shifts from positive to negative, the first occurrence in a month. This change in sentiment signals that traders are adjusting their positions, favoring short positions over long ones.

The increasing dominance of shorts indicates that market participants are betting on a further price drop. This shift suggests a loss of confidence among traders, who now expect a decline in HBAR’s value.

From a macro perspective, HBAR’s technical indicators have also taken a bearish turn. The Relative Strength Index (RSI), which slipped into the bearish zone towards the end of May, reached its lowest point in two months this week. 

The dip in the RSI