{"id":549686,"date":"2023-09-01T10:00:35","date_gmt":"2023-09-01T10:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=549686"},"modified":"2023-09-01T09:04:07","modified_gmt":"2023-09-01T09:04:07","slug":"hedera-falls-to-critical-support-level-can-hbar-rebound-this-september","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/hedera-falls-to-critical-support-level-can-hbar-rebound-this-september\/","title":{"rendered":"Hedera Falls To Critical Support Level: Can HBAR Rebound This September?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Hedera (HBAR) recently encountered a significant hurdle as it faced price rejection at a crucial weekly bearish order block. Currently hovering at the $0.0500 level, this juncture has emerged as a formidable obstacle for sellers looking to capitalize on the prevailing bearish sentiment.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/ambcrypto.com\/hbar-nears-0-05-support-will-sellers-crack-it\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">price report<\/span><\/a><span style=\"font-weight: 400\">, it was revealed that HBAR&#8217;s funding rates have consistently remained in negative territory for the past few days. This bearish skew in the futures market further underscores the challenges HBAR faces in its price recovery.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The current HBAR price, as reported by <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/hedera\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, stands at $0.050716, with a 5.0% decline over the last 24 hours and nearly 13% drop over the past seven days.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/the-apecoin-quandary-why-additional-losses-could-persist\/\" target=\"_blank\" rel=\"noopener \">The ApeCoin Quandary: Why Additional Losses Could Persist<\/a><\/div>\n<h2><strong>Declining Open Interest Reflects Reduced Hedera Demand<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Adding to the bearish narrative, open interest rates for HBAR have plummeted from $27 million to $21 million within the last five days (from August 24th to August 31st). This substantial drop indicates a waning demand for HBAR within the futures market, potentially emboldening sellers to seek further gains.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The fate of HBAR remains closely intertwined with Bitcoin&#8217;s performance. As Bitcoin drops below the key $26,000 level, it has retraced a significant portion of its loss courtesy of a favorable US court ruling in Grayscale Investments&#8217; Bitcoin ETF case against the Securities and Exchange Commission.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/MCpyIRQ3\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">HBAR market cap currently at $1.6 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>SEC&#8217;s ETF Delay Casts a Shadow on the Crypto Market<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Bitcoin&#8217;s value, along with that of other cryptocurrencies, <\/span><a href=\"https:\/\/forkast.news\/bitcoin-ether-death-cross-us-jobs-report\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">took a hit<\/span><\/a><span style=\"font-weight: 400\"> following the SEC&#8217;s announcement of a delay in reviewing seven spot Bitcoin exchange-traded fund (ETF) applications until October. This delay has cast a shadow of uncertainty over the cryptocurrency market, impacting investor sentiment.<\/span><\/p>\n<p><span style=\"font-weight: 400\">CoinShares, in its latest Digital Asset Fund Flows Weekly Report, revealed that digital assets collectively experienced <\/span><a href=\"https:\/\/dailyhodl.com\/2023\/08\/29\/institutions-take-168000000-out-of-bitcoin-and-crypto-markets-as-hopes-of-etf-approval-pushed-back-coinshares\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">outflows of $168 million<\/span><\/a><span style=\"font-weight: 400\"> over the past week, marking a two-week streak of declining investments. This negative sentiment can be attributed to the growing belief that the approval of a spot Bitcoin ETF will take longer than initially anticipated.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-549712 size-medium\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a.png?w=460&#038;resize=460%2C260\" alt=\"\" width=\"460\" height=\"260\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a.png?w=737 737w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><\/p>\n<pre style=\"text-align: center\">HBAR seven-day price movement. Source: Coingecko.<\/pre>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/can-shiba-inu-climb-before-september-starts-evaluating-the-0-00001-projection\/\" target=\"_blank\" rel=\"noopener \">Can Shiba Inu Climb Before September Starts? Evaluating The $0.00001 Projection<\/a><\/div>\n<p><span style=\"font-weight: 400\">However, amidst this turbulent market atmosphere, there is a glimmer of hope, especially after Grayscale&#8217;s win in its lawsuit against the SEC. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The court acknowledged the SEC&#8217;s error in rejecting Grayscale&#8217;s bitcoin ETF application. This legal triumph could potentially inject some optimism back into the crypto market in the coming days.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The fate of HBAR remains closely linked to Bitcoin&#8217;s performance, and uncertainties stemming from the SEC&#8217;s ETF delay continue to weigh on the broader cryptocurrency market. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Grayscale&#8217;s legal victory, however, offers a ray of hope amidst the prevailing bearish sentiment. Meanwhile, traders and investors are advised to tread cautiously and monitor market developments closely.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from <\/span>IntelligentHQ<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hedera (HBAR) recently encountered a significant hurdle as it faced price rejection at a crucial weekly bearish order block. Currently hovering at the $0.0500 level, this juncture has emerged as a formidable obstacle for sellers looking to capitalize on the prevailing bearish sentiment. In a price report, it was revealed that HBAR&#8217;s funding rates have consistently remained in negative territory for the past few days. This bearish skew in the futures market further underscores the challenges HBAR faces in its price recovery.\u00a0 The current HBAR price, as reported by CoinGecko, stands at $0.050716, with a 5.0% decline over the last 24 hours and nearly 13% drop over the past seven days. Related Reading: The ApeCoin Quandary: Why Additional Losses Could Persist Declining Open Interest Reflects Reduced Hedera Demand Adding to the bearish narrative, open interest rates for HBAR have plummeted from $27 million to $21 million within the last five days (from August 24th to August 31st). This substantial drop indicates a waning demand for HBAR within the futures market, potentially emboldening sellers to seek further gains. The fate of HBAR remains closely intertwined with Bitcoin&#8217;s performance. As Bitcoin drops below the key $26,000 level, it has retraced a significant portion of its loss courtesy of a favorable US court ruling in Grayscale Investments&#8217; Bitcoin ETF case against the Securities and Exchange Commission. HBAR market cap currently at $1.6 billion. Chart: TradingView.com SEC&#8217;s ETF Delay Casts a Shadow on the Crypto Market Bitcoin&#8217;s value, along with that of other cryptocurrencies, took a hit following the SEC&#8217;s announcement of a delay in reviewing seven spot Bitcoin exchange-traded fund (ETF) applications until October. This delay has cast a shadow of uncertainty over the cryptocurrency market, impacting investor sentiment. CoinShares, in its latest Digital Asset Fund Flows Weekly Report, revealed that digital assets collectively experienced outflows of $168 million over the past week, marking a two-week streak of declining investments. This negative sentiment can be attributed to the growing belief that the approval of a spot Bitcoin ETF will take longer than initially anticipated. HBAR seven-day price movement. Source: Coingecko. Related Reading: Can Shiba Inu Climb Before September Starts? Evaluating The $0.00001 Projection However, amidst this turbulent market atmosphere, there is a glimmer of hope, especially after Grayscale&#8217;s win in its lawsuit against the SEC. The court acknowledged the SEC&#8217;s error in rejecting Grayscale&#8217;s bitcoin ETF application. This legal triumph could potentially inject some optimism back into the crypto market in the coming days. The fate of HBAR remains closely linked to Bitcoin&#8217;s performance, and uncertainties stemming from the SEC&#8217;s ETF delay continue to weigh on the broader cryptocurrency market. Grayscale&#8217;s legal victory, however, offers a ray of hope amidst the prevailing bearish sentiment. Meanwhile, traders and investors are advised to tread cautiously and monitor market developments closely. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from IntelligentHQ<\/p>\n","protected":false},"author":557,"featured_media":549718,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,87133,83784,4735],"class_list":["post-549686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-hbar-price","tag-hedera","tag-price-action"],"acf":[],"yoast_head":"\n<title>Hedera Falls To Critical Support Level: Can HBAR Rebound?<\/title>\n<meta name=\"description\" content=\"Hedera (HBAR) recently encountered a significant hurdle as it faced price rejection at a crucial weekly bearish order block. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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