- Hedera Hashgraph fell for the sixth consecutive day.
- HBAR is likely to return to its previous price range soon.
hedera [HBAR] Prices have skyrocketed recently, reaching one of the highest values in recent months. However, once the initial turmoil subsided, prices began to fall and the sentiment quickly waned.
HBAR continues to decline
Hedera’s daily price trend showed an interesting pattern, but it may not be all that exciting for holders. Initially, from April 20th to 22nd, the price followed a relatively stable trajectory, hovering around $0.08 to $0.09.
However, a significant rally occurred on April 23rd, with HBAR increasing by an astounding 73.65% and the price rising to $0.15.
This parabolic rise was driven by factors such as: Hedera Foundation post now deleted Announced tokenization movement involving BlackRock.
Source: TradingView
The price then started to decline on April 24th, dropping by 20.58% to settle at $0.12. This decline marked the beginning of a continuous decline, with prices returning to their pre-surge range.
Interestingly, this decrease coincided with an explanation post from. Archax CEO Graham Rodford About Blackrock’s tokenization announcement. As of the latest update, HBAR is trading at a price range of $0.10.
Despite the significant price decline, HBAR maintains a weakening bullish trend, with the Relative Strength Index above the neutral line.
Hedera predicts heavy trading volume and market cap decline
An analysis of Santimento’s volume metrics reveals a significant spike that coincided with two major price movements for Hedera. Trading volume soared from an average of $50 million to more than $1 billion as prices soared more than 70% of his time.
Similarly, when prices fell on April 24, trading volume soared to more than $3.5 billion and then gradually declined. As of the latest update, its volume was approximately $135 million.
According to data from CoinMarketCap, volume has declined by about 7% in the past 24 hours.
Source: Santiment
Additionally, market capitalization experienced significant fluctuations in response to price movements. Its market capitalization soared from about $3.2 billion to more than $6 billion as the price soared more than 70%.
At the time of this writing, the market capitalization was approximately $3.6 billion. CoinMarketCap data also shows that the market capitalization has declined by nearly 2% in the past 24 hours.
Interest in Hedera plummets
The surge in price experienced by Hedera led to large cash inflows, soaring to more than $147 million by April 25, as shown by Coinglass’ open interest index.
However, this surge of interest has since subsided, and the indicators have fallen sharply. 
Source: Coinglass
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As of this writing, open interest is approximately $80 million, suggesting that cash flows into HBAR are decreasing.
This decrease in open interest indicates that interest in Hederagraph is waning, indicating that the short-lived bull run experienced by this asset is over.
