HBAR has recorded its first spot inflow in the past seven days, attracting $1.5 million in fresh capital.
This marks a positive shift in market sentiment as investors regain confidence in the altcoin. It also aligns with the broader market’s attempt to recover from recent downturns.
Bullish Momentum Builds as HBAR Gains $2 Million in Inflows
HBAR’s spot inflows surged to nearly $2 million on Monday, signaling a resurgence in bullish sentiment toward the altcoin. Data from Coinglass reveals that this is the first time HBAR has attracted fresh capital in seven days, marking a shift in investor confidence.
According to the on-chain data provider, between March 11 and 16, the altcoin faced consistent sell pressure, with spot outflows exceeding $10 million. This latest inflow suggests a bullish reversal in market sentiment, hinting at a possible recovery as investors regain interest in HBAR.
Furthermore, the altcoin’s positive Balance of Power (BoP) highlights this renewed interest. At press time, this momentum indicator is in an upward trend at 0.62.
The BoP indicator measures the strength of buyers against sellers in the market to identify momentum shifts. A positive BoP like this suggests that buying pressure outweighs selling pressure, indicating growing demand and potential price appreciation.
If HBAR’s BoP remains positive, it confirms the bullish dominance, reinforcing the current buying pressure and supporting a sustained uptrend in the asset’s value.
HBAR Eyes $0.22 as Demand Grows—Will Bulls Maintain Momentum?
HBAR exchanges hands at $0.19 at press time, trading above the support floor at $0.17. As demand grows, the altcoin could climb toward the resistance at $0.22.
A successful break above this level could propel HBAR’s price to $0.26, a high it last traded at on March 4.
Conversely, the bullish outlook would be invalidated if sellers regain dominance and profit-taking strengthens. In this case, HBAR’s price could fall to $0.17.
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