According to Hedera’s (HBAR) liquidity map data, traders shorting this digital currency are in a concerning situation. If the price of HBAR rises to $0.18, around $30 million of short contracts will be at risk of liquidation. This could lead to significant losses for traders who have predicted a decline in the asset. Currently, market participants are trying to break lower supports and decrease the price. Despite challenging market conditions, the current situation acts as a protective shield for short traders, helping them prevent considerable losses. Technical analysis indicates that Hedera is approaching a death cross. The 200-day moving average is only slightly above 3% away from crossing the 50-day moving average. If this pattern confirms, it signals a continuation of the downtrend, potentially causing further price reduction in the coming days. Currently trading at $0.157, Hedera is just slightly above the critical support of $0.154. If bearish sentiments intensify, there is a possibility of dropping below this support, leading to further price decline. The next support is around $0.143, and if lost, the price may decrease towards $0.12 or even lower. On the other hand, if Hedera manages to bounce back from the $0.154 level, we might witness a recovery trend. In this scenario, if the $0.165 resistance turns into support, the price could move towards $0.177, causing significant losses for short traders.
