Hedera's HBAR Faces Key Resistance Amid Bearish Sentiment

Hedera's native token, HBAR, is currently trading near a crucial support level at $0.108, facing challenges in surpassing the $0.114 resistance. According to NS3.AI, this resistance level is significant due to the concentration of short positions. A rise above $0.114 could potentially lead to approximately $4.5 million in short liquidations, which might result in a sharp price movement. Despite this potential, investor participation appears to be weakening, and there are ongoing outflows, indicating a bearish sentiment in the market. This situation makes a recovery uncertain unless HBAR can clearly break above critical Fibonacci retracement levels.