HBAR Price Predicted to Pull Back to $0.07 Before Any Breakout

Hedera (HBAR) has been trading at $0.08, but its chart looks like a tired rally. The price is hugging the upper Bollinger Band with an RSI of 70.71, firmly in overbought territory, while the MACD histogram is flat at zero, indicating that momentum has stopped.

The setup is particularly tricky due to price compression, with short-term moving averages clustering around $0.08 and long-term ones below at $0.07. This zone is where HBAR wants to breathe, and traders are expecting a sharp and fast directional move.

Derivatives data shows open interest dropped 5.28% in the past 24 hours, indicating positions are being closed rather than added. The taker buy/sell ratio is at 0.9285, with sell-side aggression marginally dominating intraday flow.

However, smart money, or top traders, are positioned 66.6% net long, suggesting they're holding for a higher exit. Retail investors are 61.1% long, but this is not enough to trigger a breakout.