Hedera Price Bounce Imminent as Technicals Point to Short Squeeze

Hedera's price has been stuck at $0.07 for some time, but technical indicators suggest a potential bounce.

The stochastic oscillator is in oversold territory, indicating that prices may rise soon. Meanwhile, whales are accumulating long positions, which could lead to a short squeeze.

However, the market context remains bearish due to Hedera's structural break below its 200-day SMA of $0.08 and lack of DeFi activity on its hashgraph network.

The critical resistance level is $0.08, which could see a test if prices rise above it.