HBAR News: How HBAR Price Reacted to Crypto Liquidations?
Key Insights:
- The market dropped suddenly, with many liquidations leading to a decline in HBAR. However, the price then turned around and started rising.
- HBAR token will soon be offered on OKX, which ranks among the top crypto exchanges in the world.
- HBAR news showed that the price traded at $0.165. Also, its price remained in a vital accumulation zone between $0.118 and $0.22.
A report on HBAR news showed that the markets suddenly dropped sharply following massive liquidations. Meanwhile, the HBAR price turned around and started rising.
The crypto sector experienced a sharp sell-off as leveraged assets were liquidated. After the flush, prices rebounded, showing renewed strength in the market.
Crypto Liquidations Hit HBAR
HBAR price hit thick liquidation bands, creating strong liquidity zones. This led to intense buying and selling activity in the market.
After the decline, buyers helped increase demand and stabilize the price. If it keeps going up, HBAR may move higher due to the lower pressure from short selling.
HBAR news highlights the possibility of another sell-off if the price returns to the $0.17 liquidation area. If this level is tested again, more selling pressure could emerge.
Bounce actions in the market confirmed that other major cryptos with similar movements were also getting better. If HBAR rises above $0.17, the rise may become rapid thanks to fewer obstacles.
In the event of a breakdown, the price might return to liquidation levels and once more shake out new market entrants.
HBAR News: Listing on OKX as 21Shares Launches ETP
Meanwhile, HBAR news showed it was picking up steam as new developments were made in the network. The token will soon be offered on OKX, a top crypto exchange worldwide. With this listing, HBAR could have better liquidity and reach out to more individual and institutional traders.
21Shares has launched a Hedera exchange-traded product (ETP). This allows regular investors to trade HBAR like stocks on the exchange.
These actions were a major achievement in HBAR’s efforts to become accepted by many. Interest grew as the SEC was scheduled to rule on Canary Capital’s Hedera ETF proposal on June 11.
A positive vote could increase investor interest and move the price of HBAR. Furthermore, the Stablecoin Studio provided by Hedera could improve the ease of issuers’ work with digital assets.
Hedera might help HBAR offer stablecoin services and add lasting value by playing a leading role.
HBAR Price Action and Key Levels
HBAR news showed that the price traded at $0.165. Its price remained in a vital accumulation zone between $0.118 and $0.22. Following a five-wave pattern (labeled from I to V), this region became a corrective base, forming an ABC structure.
The chart shows a local trough near $0.118, indicating a potential reversal point. A key wave (III) could target $0.707, following the 1.618 Fibonacci extension. With this target in view, momentum could increase significantly.
HBAR has tested resistance levels at $0.288 and $0.402. If momentum continues, the price could rise toward $0.70. Failing to keep the midrange at $0.165 could return the price to $0.118.
If the price goes below $0.118, this signals that bullish invalidation may occur, so the foreseen upside could slow down. In addition, the firm structure indicated that the coin would not fall to that level. Its high stability against other altcoins has shown strong belief from investors.
The $0.118 level served as a key buying zone for investors. Meanwhile, $0.165 acted as resistance, preventing a push toward the midrange.
The $0.288 and $0.402, used for resistance, and $0.707, signaling a potential substantial upside. A break of $0.22 could prove that a reversal is occurring.
