Hedera’s native token HBAR is under mounting bearish pressure after failing to break above resistance at $0.2155. The token has moved sideways in recent sessions, reflecting the broader market’s weak start to the new month.

With waning buying momentum, the altcoin risks plunging to a three-month low.

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HBAR Bears Tighten Grip

Since September, HBAR’s price has failed multiple attempts to breach the $0.2155 resistance zone, which has now solidified into a short-term ceiling. The inability to push past this level signals exhaustion among buyers and strengthens the case for a bearish breakdown.

On the daily chart, HBAR’s Chaikin Money is poised to slip below the zero line, a move that would confirm growing sell-side pressure. 

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The CMF indicator tracks capital inflows and outflows and serves as a key measure of whether buying or selling is dominant. When it trends downward and is poised to break below zero, it signals that selling activity outweighs accumulation, putting HBAR at risk of a breakout below its current narrow range. 

Additionally, HBAR continues to trade below its 20-day Exponential Moving Average (EMA), suggesting that downward pressure could remain dominant in the near term. At press time, this key moving average is $0.2230, forming dynamic resistance above the altcoin. 

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Author: Abiodun Oladokun