HBAR Price at Risk of a 30% Dive as ETF Inflows Dry, Open Interest Falls

HBAR price has been in a strong downward trend this month as crypto investors dumped Bitcoin and most altcoins. Hedera was trading at $0.1400 today, Nov. 18, down by over 52% from its highest level in August. This crash will likely continue now that it has formed a death cross pattern, while demand for its ETFs has ended.

HBAR Price Could Crash Further as ETF Inflows and Open Interest Drops

Third-party data shows that the HBAR price could be at risk of more downside in the near term. One of these data comes from SoSoValue, which shows that demand for the Canary HBAR ETF has waned. 

The fund has not had any inflows in the past three trading days. Its most recent transaction was an outflow of $1.71 million, which happened on Friday last week.

Altogether, the fund has accumulated just $74 million in inflows and has $61 million in assets today. On contract, Solana ETFs have accumulated over $420 million in inflows and have $593 million in total assets.

One main reason why the HBAR ETF is not seeing substantial demand is that Hedera is a less popular coin than Solana. Another reason is that American investors are afraid of catching a falling knife now that charts show that the HBAR ETF is in a strong downward trend.

Meanwhile, Hedera’s activity in the futures market has largely dried. According to CoinGlass, Hedera’s futures open interest has dropped to $112 million, the lowest level this year. This is a big decline since the open interest stood $450 million on October 10 and $525 million in July this year.

Falling open interest is a sign that demand for the coin is waning, especially after the October 10 liquidations in which HBAR positions worth over $38 million were liquidated.

Another sign of weak demand is that the volume in the spot market has dropped to $275 million, down from $1.74 billion on October 29 and $6 billion in December last year.

Hedera Price Technical Analysis

The daily timeframe chart shows that the HBAR price has been in a strong downward trend in the past few months. It has crashed from a high of $0.3052 in July to the current $0.1400.

The coin has formed a descending channel that connects the highest and lowest swings since July. It is now nearing the lower side of this channel.

At the same time, the coin has invalidated the bullish double-bottom pattern at $0.1553, putting it at risk of more downside. It also formed a death cross pattern in October as the 200-day and 50-day moving averages have crossed each other. It also remains below the Supertrend indicator. 

Therefore, the most likely HBAR price forecast 2025 is bearish, with the next key target being at the October low of $0.10, which is about 30% below the current level.

On the other hand, a move above the important resistance level at $0.1600 will invalidate the bearish outlook and point to a swift recovery.