Hedera (HBAR) Shows Strength in Futures Market Amid Altcoin Slump

Hedera (HBAR) shows strength in the futures market amid an altcoin slump. Hedera (HBAR) shows resilience in the futures market despite declining altcoin prices. Open holdings in HBAR futures have risen by almost 20% since the month began. An increase in open interest suggests that market activity is expanding and more players are opening new positions.
 

$HBAR aggr. volume increased by 320.42% in the last 10 minutes at Okx, Gate.

That represents a $70,020.98 volume.
Price is now $0.091185.🌊🟢️

— Coinact – Volume Spikes (@VolumeAlertBot) June 9, 2024

Furthermore, the funding rate on cryptocurrency exchanges has not decreased, indicating a strong demand for long holdings. This pattern suggests that more traders are betting on an increase in HBAR instead of a decrease. The elevated open interest and positive financing rate indicate a robust market and cautious confidence among futures traders. Should this optimistic outlook persist, HBAR may see possible price increases.

Key Hedera Levels To Watch – June 9

Following the BOS (Break Of Structure) at $0.14000, HBARUSD hit a new high at $0.18420. The price of Hedera has been depreciating since the price formed the swing high at $0.18420.
 
As indicated by the MA Cross, HBARUSD is currently facing the downside. However, according to the RSI (Relative Strength Index), an upward rally is imminent as the market approaches the oversold region.

HBAR Key Levels

Resistance Levels: $0.08750, $0.09500, $0.10140
Support Levels: $0.07630, $0.06710, $0.05390

Hedera Metrics

Total Market Capitalization: $2.55T
Hedera Market Capitalization: $3.25B
Hedera Volume: $42.44M
Market Rank: #32

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