HBAR Price Action Looks Indecisive on the Charts, but Analysts Hold Out a Positive Outlook for the Crypto

At the time of writing, Hereda Hashagraph (HBAR) was trading at $0.05081, down 4.96% in the last 24 hours.

Hereda Hashagraph (CRYPTO: HBAR) price showed indecision on the charts, but technical indicators and analysts hold out a positive outlook for the crypto.

At the time of writing, HBAR was trading at $0.05081, down 4.96% in the last 24 hours, and trading in a narrow range between $0.051 and $0.054 without a clear direction.

HBAR Price Action Alternates Between Green, Red Candles

Price action showed alternating green and red candles, suggesting indecision. The price remained within a narrow range of $0.051 and $0.054 without a clear direction. Additional downside pressure could follow if the price breaks below $0.050.

The Moving Average Convergence Divergence (MACD) indicator showed the MACD line of -0.00008 and the signal line of -0.00042 below zero. The relative strength index (RSI) was 43.94, indicating that the market bears were starting to take control.

Technical Indicators Suggest Bearish Sentiment

The price action of HBAR suggested a bearish sentiment, at least in the short term. The MACD line was below the signal line and both were below zero. This indicated bearish momentum, which was supported by the RSI being below 50.

However, the RSI was also showing a divergence from the price action, which could be a sign of bullishness to come. Additionally, the price was holding above a key support level at $0.050, which could also be bullish.

Analysts See Potential Breakout If Key Resistance Is Overcome

According to analyst Maverick, a breakout above $0.0559 represents a bullish reversal. “HBAR is testing key resistance at $0.0559, and a breakout could offer a solid entry opportunity,” he noted. If it goes above this level, it can rise rapidly towards previous highs.

$HBAR: Bullish Breakout on the Horizon?

After a prolonged downtrend, $HBAR is showing signs of strength.

Holding above the 24h moving average, now testing key resistance at $0.0559.

A breakout above $0.0559 could signal a solid entry opportunity.

Market maker… pic.twitter.com/oW11RD3BMJ

Key resistance levels to watch for HBAR are around $0.07 and $0.10. A failure to hold these could lead to a test of support near $0.050.

Fibonacci Levels Provide Key Insights for Future Movements

Technical analysis using Fibonacci retracement levels identifies key areas for HBAR. The 0.236 level at $0.0687 is crucial support, with major resistance at the 0.5 level near $0.15. A break above could ignite bullish momentum.

#HBAR MINIMUM 30X Potential (UPDATE):

Last cycle, #ADA skyrocketed a mind-blowing 17,000%!

To put this into perspective, with #HBAR's bottom at 0.036c, a 170X move would take it to around $6!

That’s why I’m all-in on #HBAR!

Backed by a powerhouse Governing Council,… pic.twitter.com/ysvPiHUSYR

HBAR consolidated below 0.236, and EGRAG CRYPTO stated, “HBAR is locked and loaded for a surge to Fib 0.702 at $0.25.” According to the analyst, until it surpasses the 0.5 level, “everything else is noise.”

Further upside projections suggest price targets between $1.24 and $3.27, based on Fibonacci extensions. However, the long-term outlook is bullish if HBAR fails to break past these key levels.

Analyst EGRAD CRYPTO stated that it has the potential for a 30x increase according to the previous market cycle. The analyst added that ADA skyrocketed a mind-blowing 17,000% last cycle, and HBAR is more likely to see similar gains.

The above is the detailed content of HBAR Price Action Looks Indecisive on the Charts, but Analysts Hold Out a Positive Outlook for the Crypto. For more information, please follow other related articles on the PHP Chinese website!