Hedera's native token, HBAR, has recorded another day of losses, sliding 7% in the past 24 hours

Hedera's native token, HBAR, has recorded another day of losses, sliding 7% in the past 24 hours. At press time, the altcoin trades at $0.19.

Hedera’s native token, HBAR, has slid by 7% in the past 24 hours. The altcoin is now trading at $0.19.

The sustained downward trend comes as buying pressure lessens amid increasingly bearish market conditions.

Investors Exit HBAR As Key Indicators Point To Further Downside

BeInCrypto’s assessment of the HBAR/USD one-day chart shows that the token’s Accumulation / Distribution (A/D) Line has been steadily decreasing since the beginning of March. This highlights the sustained dip in the coin’s value over the past ten days.

The A/D Line measures money flowing into or out of an asset by analyzing its price movements and trading volume. When it decreases, it shows that selling pressure is increasing, with more traders unloading the asset rather than accumulating it.

A persistent downtrend in the A/D Line, as seen with HBAR, suggests ebbing demand and signals further short-term price declines.

HBAR’s Relative Strength Index (RSI) has also dropped, confirming growing sell-side pressure as investors pull funds from the market. At the time of writing, this indicator, which measures an asset’s oversold and overbought market conditions, stands at 40.10.

This RSI reading shows that bearish momentum is growing. An RSI below 50 usually signals that selling pressure outstrips buying interest, and a continued decline suggests weakening market confidence. If HBAR’s RSI approaches 30, it could indicate oversold conditions, hinting at a reversal or further downside risk.

HBAR's Fate Depends On Support At $0.16

A sustained spike in selling pressure in the HBAR spot markets would cause it to extend its price decline in the short term. In this case, its price could plummet to a three-month low of $0.16.

If the support level fails to hold, the price drop could strengthen and aim for $0.12. Conversely, this bearish projection would be invalidated if new demand enters the HBAR market. In that scenario, HBAR could climb to $0.24.