The analysis of Hedera (HBARUSDT) presents a mixed outlook, with a short-term bullish potential within a broader bearish long-term structure. Technically, recent price action indicates positive momentum over the last 24 hours. Negative funding rates and spot absorption, combined with price forming higher lows against lower lows in Cumulative Volume Delta (CVD), suggest a bullish divergence. While ETF inflows for HBAR were observed on December 25th, reaching nearly $1 million, and cumulative December inflows totaling $3 million, these are considered minor in the overarching market context. Fundamentally, Hedera's Total Value Locked (TVL) is trending downwards, currently at $65.92 million, indicating a bearish fundamental landscape. The long-term technical structure on higher timeframes remains bearish, with established support levels identified at 0.100 USD and 0.095 USD, followed by a liquidity gap between 0.075 USD and 0.080 USD. The long-term forecast suggests a potential trend towards these lower price points. In the short term, however, a local bottom consolidation is indicated around the current price of 0.109 USD. This short-term bullish momentum is partly attributed to a local bottom formation in Bitcoin and the expectation of mean reversion toward the 30-day rolling VWAP and 50 EMA. Two overhead liquidity gaps are identified as primary short-term targets: the initial gap at 0.117 USD and a subsequent target at 0.125 USD. A potential short-term price trajectory involves a brief downward movement to approximately 0.103 USD, followed by a reversal and upward rally to fulfill these liquidity gaps. A decisive break below the 0.103 USD mark would invalidate this short-term bullish thesis.