Hedera remains under heavy pressure, marking yet another day of decline as traders continue to bet against the altcoin. It trades at $0.18 at press time, noting a 2% price drop over the past 24 hours.
With its long/short ratio signaling a surge in short interest, market sentiment has turned increasingly pessimistic.
Short Sellers Tighten Grip on HBAR
HBAR’s long/short ratio has dropped to 0.86, its lowest level in a month. This reflects a sharp increase in short positions among derivatives traders.
The long/short ratio measures the proportion of long positions (bets on price increases) to short positions (bets on price declines) in the market. A ratio below one means there are more short positions than long ones. This indicates that traders are predominantly bearish on HBAR and hints at a higher likelihood of continued downside movement.
Further, HBAR’s negative Chaikin Money Flow (CMF) on the daily chart supports this bearish outlook. This indicator, which measures how money flows into and out of the asset, is below zero at -0.10 when writing.
HBAR’s negative CMF reading suggests high selling activity, with its sellers dominating the market and looking to push prices lower.
HBAR Traders Brace for Volatility as Price Flirts with Key Support Levels
The growing demand for short positions highlights investors’ expectations of further downside, raising concerns about HBAR’s ability to hold above the critical support level formed at $0.17.
If it fails to hold, the token’s price could plummet to a multi-month low of $0.11, which it last traded at in November.
However, a resurgence in demand for the altcoin could invalidate this bearish projection. If buyers regain market dominance and increase demand, HBAR could rebound toward $0.22.
Two Russian crypto entrepreneurs were briefly kidnapped in Buenos Aires in yet another attempt to achieve a ransom in crypto. The criminals received $43,000 in ransom, fleeing to the UAE after releasing the couple.
Reportedly, neither of the victims was seriously injured, and an outside acquaintance paid the ransom. Interpol subsequently put out a red notice for the perpetrators’ arrest.
Latest Crypto Kidnapping in Argentina
Local media coverage provides several key details about this incident. For example, all five of the story’s main actors are Russian citizens: the victims, kidnappers, and the outside friend who paid the crypto ransom.
The two unnamed victims lived in Palermo, a long-standing hub of Argentina’s crypto community. Still, a lot of information remains under wraps.
These Russian crypto entrepreneurs were led to their kidnapping by a dinner invitation, but it’s not clear if they had any previous relationship with their assailants.
In any event, the attackers tied them up shortly afterward, demanding a $43,000 ransom. Apparently, their friend paid this quickly in a single transaction.
Local reports don’t mention any serious physical harm, and the couple was rescued within 24 hours. The woman managed to call for help from the apartment’s balcony, leading the police to discover that the kidnappers had long since fled.
These men quickly made it to the nearest airport and flew to the UAE.
Scene of the Crypto Kidnapping. Source: Todo Noticias
Now that Interpol is looking for these Russian kidnappers, their arrest will hopefully follow. In an interesting twist, Judge María Romilda Servini was appointed to supervise the criminal case.
These Russian kidnappers only asked for a comparatively small crypto ransom, but they got their money. If the authorities don’t arrest them soon, this success could inspire even more copycats.
SUI meme coins are gaining major traction as the SUI ecosystem continues to strengthen. SUI DEX volume has surged to $3.8 billion over the past seven days, up 74%, making it the fifth-largest chain by decentralized trading volume and surpassing Arbitrum.
As interest in SUI grows, top meme coins like Sonic Snipe Bot (SONIC), LOFI, MEMEFI, MIU, and Fud the Pug (FUD) are showing a mix of strong momentum and key technical tests. The next few days could be crucial in deciding which tokens emerge as leaders in the fast-growing SUI meme coin space.
Sonic Snipe Bot (SONIC)
Sonic Snipe Bot is an automated trading tool built for lightning-fast trade executions. It is fully integrated into the Telegram application and stands out by offering support for 31 blockchain networks, including Sui, Ton, Injective, Solana, and Tron.
Sonic Snipe Bot also supports all major bonding curves, such as Movepump on Sui, making it a flexible and powerful option for traders looking to operate across multiple ecosystems without leaving Telegram.
Over the past seven days, SONIC, the native token tied to the bot, has surged by 27%, pushing its market cap to approximately $1.7 million. If positive momentum continues, SONIC could rise above the $0.40 mark and potentially challenge the $0.426 level.
However, if the trend reverses and selling pressure builds, the token could fall back toward $0.29, and in a stronger downtrend, even $0.24 could be tested.
LOFI
LOFI is one of the biggest meme coins on the SUI blockchain, built around the theme of a Yeti character. Despite its strong brand and visibility, LOFI stands out for a less positive reason this week—it is the only token among the top 10 SUI meme coins that is down over the past seven days.
This relative underperformance could indicate weakening investor interest compared to its peers, or it could present a potential rebound opportunity if sentiment around SUI meme coins remains strong overall.
LOFI continues its push to become one of the most recognized meme projects on the SUI blockchain. If momentum recovers, LOFI could rise above the $0.045 mark and potentially challenge $0.054 in an extended rally.
However, the $0.030 support level remains critical. A break below this zone could trigger a steeper decline toward $0.0158, and if selling pressure accelerates, even $0.0055 could be tested.
MemeFi (MEMEFI)
MEMEFI is a Telegram-based game and Web3 meme universe that claims to have more than 50 million players worldwide. It has quickly climbed the ranks and is now the second-largest SUI meme coin by market cap, currently at $35 million.
This marks a sharp pullback from its peak of $51 million reached just yesterday, reflecting the recent correction underway.
Despite the decline, MEMEFI is still up an impressive 353% over the past seven days.
If MEMEFI can regain its bullish momentum, it could first aim to break above the resistance at $0.0037. A successful breakout would open the path toward $0.0053, potentially extending its rally.
However, if the ongoing correction deepens, the first major support to watch is at $0.0026. A break below that could push the price further to $0.00185; if selling pressure intensifies, even $0.00143 could come into play.
MIU
MIU is currently the biggest meme coin on the SUI network, boasting a market cap of $68 million. Its price has climbed 16.7% over the past seven days, reinforcing its leadership position within the growing SUI meme coin ecosystem.
MIU is by far the largest meme coin in this space, with no close competitors matching its size or visibility. As the broader SUI ecosystem gains momentum and attracts more attention, MIU could continue to benefit from the overall surge in interest.
As the dominant player, it stands in a strong position to ride the next wave of growth if the trend across SUI meme coins remains positive.
If the positive momentum around MIU continues, the token could rise to test the $0.000000080 level, marking a new short-term target.
However, if the trend weakens and selling pressure emerges, MIU could first fall toward support at $0.0000000689. A deeper correction could even push the price down to $0.0000000599.
Fud the Pug (FUD)
This one is another meme coin aiming to carve out a leading spot in the growing SUI meme coin ecosystem. FUD currently holds a market cap of $3.8 million, down from its peak of $5.9 million just two days ago.
Despite a nearly 5% drop over the last 24 hours, FUD remains up an impressive 41% over the past seven days, highlighting strong underlying momentum.
Technically, FUD recently tested the support level at $0.0000000634. If this level is tested again and fails to hold, the next downside target would be around $0.000000050.
On the upside, if the current pullback stabilizes and momentum returns, FUD could rise to challenge resistance at $0.000000075. A breakout above that could pave the way for a push toward $0.00000010.
With dog-based meme coins often attracting outsized attention and hype, FUD could have a strong chance to expand its market presence if broader interest in SUI meme coins continues to grow.
Solana has posted a 7% increase in the past 24 hours, aligning with the broader market’s recovery. While this surge may appear promising, technical and on-chain data suggest that the coin could face significant resistance.
Despite the recent rally, SOL risks shedding these gains and could fall below the $100 mark if bearish pressures dominate.
Solana’s Price Surge Lacks Momentum
While impressive, SOL’s current rally largely reflects the broader market trend rather than demand for the altcoin. The bearish divergence formed by its Chaikin Money Flow (CMF) shows this.
At press time, SOL’s CMF is below the zero line at -0.09, indicating a lack of buying momentum among SOL market participants.
The CMF indicator measures money flow into and out of an asset. A bearish divergence emerges when the CMF is negative while the price is climbing. The divergence signals that despite the upward movement, there is more selling pressure than buying interest, suggesting weak bullish momentum.
This indicates that SOL’s current price rally may lack sustainability and could be at risk of reversing or stalling as new demand remains scarce.
Further, the coin’s long/short ratio highlights that its market participants lean more heavily toward the short side. At press time, this stands at 0.97.
The long/short ratio measures the balance between long positions (betting on price increases) and short positions (betting on price decreases) in the market. When the ratio is below zero like this, it indicates that there are more short positions than long positions.
This suggests that bearish sentiment remains dominant in the SOL market, and its futures traders are anticipating a decline in the asset’s price.
Solana in Crucial Zone: Will $95 Hold or Lead to a Steeper Decline?
During Monday’s intraday trading session, SOL plummeted to a 12-month low of $95.26. Although it has since rebounded to trade at $108.77 at press time, the lingering bearish bias leaves the coin at risk of shedding these gains.
If SOL witnesses a pullback, it could break below the support at $107.88. If it falls back below $100, the coin’s price could fall toward $79.
On the other hand, if the uptrend continues, backed by a surge in new demand, SOL’s price could breach the resistance at $111.06 and climb toward $130.82.
