HBAR Token Drops, Signaling Bearish Trend in Hedera Network

The HBAR token experienced a 2% decline over the past 24 hours, struggling to maintain its position amidst broader market gains. Data from Coinglass reveals $6.42 million in capital withdrawn from spot markets during a three-day period, highlighting a growing bearish sentiment within the Hedera ecosystem. Technical indicators suggest increased selling pressure, indicating potential for further price declines.