Hedera Hashgraph's native token, HBAR, faced another day of setbacks, dropping 7% over the past 24 hours to $0.19.

The persistent decline in HBAR's value has been exacerbated by diminishing buying activity amidst a bearish market sentiment.

Investor sentiment towards HBAR has soured as key indicators point towards further downside potential.

Analysis of the HBAR/USD one-day chart by BeInCrypto highlights a consistent decrease in the token's Accumulation/Distribution (A/D) Line since early March, showcasing a prolonged decrease in value over the past ten days.

The A/D Line, a metric tracking money flow in and out of an asset based on price movements and trade volume, reflects increasing selling pressure as more traders are divesting from HBAR rather than accumulating it.

Similarly, HBAR's Relative Strength Index (RSI) has dropped significantly, underscoring the escalating selling pressure as investors withdraw funds from the market. The current RSI of 40.10 signifies a growing bearish momentum.

With both the A/D Line and RSI signaling weakening demand and mounting sell-side pressure, HBAR's short-term future rests on its ability to hold support at $0.16.

Further downward pressure in the spot markets could drive HBAR to a three-month low of $0.19, with a potential fall to $0.12 if the support level fails. However, if new demand revitalizes the market, HBAR may see a resurgence towards $0.24, overturning the bearish outlook.