The HBAR price forms a double top, and makes a slight collapse; Can Bitcoin save you?

The price of HBAR registered a slight decline in the last 24 hours, as bearish sentiment increased among investors. The symbol is trading lower after failing to support recent gains.

This weakness could trigger a bearish pattern on the chart, indicating the potential for a downward move as selling pressure gradually increases among short-term holders.

HBAR can move away from Bitcoin

The correlation between HBAR and Bitcoin has registered a sharp decline, and is now at 0.26. This represents the lowest level in almost two months. The weaker relationship reflects reduced confidence in Bitcoin price movements, which changes how HBAR reacts to broader market movements.

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This change has mixed implications for pricing HBAR. If Bitcoin sees a pullback, HBAR can avoid recording the same losses. However, Bitcoin’s recovery may fail to support HBAR significantly. A decrease in correlation can limit the upside momentum during periods of market strength, increasing confidence in the demand for the project itself.

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Investor sentiment remains… Especially HBAR Bearish based on general indicators. The weighted sentiment index remains in negative territory, indicating weak confidence among participants, and reducing buying support during periods of weak prices.

Negative sentiment often reflects caution rather than panic, but it also affects price stability. Without renewed confidence, HBAR remains vulnerable to further corrections. A bearish position can put pressure on the symbol if market conditions do not provide external support in the near term.

The price of HBAR will see a decrease

Expect a 5% decrease in the price of hbar with a target of $0.102. This forecast is based on the double top pattern that formed earlier last month. This pattern usually indicates the exhaustion of the trend and often precedes a corrective phase when confirmed by continued selling.

The altcoin crash has already been recorded below the neck in the last 24 hours. Trading hbar Close to $0.107, with $0.106 considered short-term support. While this level triggered a short bounce, current conditions suggest the potential for another decline that could confirm the pattern near $0.102.

Reversing the negative scenario required a decisive recovery. hbar should reset $0.109 level as support. A sustained rebound from this zone, followed by a move towards $0.113, would indicate renewed strength and confirmation of a short-term trend reversal.