Falling Wedge Emerges in HBAR Price Action

Hedera's native HBAR token took a beating in the latest market downturn, sliding by approximately 4% in 24 hours. This downward price movement has helped form a classic falling wedge pattern on the charts.

A bullish formation like this can potentially help withstand geopolitical uncertainty and bearish data, but its success is not guaranteed. The bulls now have to turn the tides for HBAR before it breaks below the current structure.

The True Strength Index (TSI) hovered in negative territory for nearly a week, dipping into the bearish mode last Thursday with a brief comeback on Sunday. The metric dictates a stronger bearish trend passing by on the one-hour charts, with crypto whales still actively distributing positions, the Chaikin Money Flow (CMF) flashes a highly-negative figure of -0.38.