HBAR Technical Analysis: Another Local Impulse Down Is Possible
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Starting in late November, the HBAR price began to trade in the consolidation wedge. This type of slowdown often indicates at least a short-term price rebound in the opposite direction. Given the rapid BTC price growth, we expect a local correction of the entire crypto market. In this case, the coin price has a chance to slightly update the local low and test the mark of $0.17. However, keeping this mark, we will expect a sharp reversal of HBAR price with the first target of $0.46. The price movement should be closely monitored near this mark, as such a rebound may be a local correction before the fall wave continues.
Technical Analysis Of HBAR On The Daily Timeframe
But, the HBAR price may not update the local low, stopping in the range of $0.2. As you can see, consolidation was formed in this range, which sellers failed to break on increased volumes. Therefore, if the new local fall wave will not differ from the previous aggressiveness and high volumes, we will expect the HBAR price rebound from the range of $0.2.
At the moment, the HBAR price has stopped near the local resistance zone of $0.25-$0.27. Now, buyers do not have enough strength to break this liquidity zone without correction. If trading volumes do not increase during the breakdown of the range $0.25-$0.27 - the rest of the week the coin price has a high chance of correction.
The HBARBTC Price Scares The Big Prospect Of Falling
If compared to USDT the HBAR price looks quite promising, then analyzing HBARBTC becomes uneasy. At least a 15% fall to the lower base of HBARBTC price pattern has a high chance of passing. However, looking at sellers in the weekly timeframe actively forming pins up, keeping control of the market, we can assume that the price fall is not over. If buyers do not keep the mark of 0.00000488 - HBAR market will fall into complete depression. In this case, the main target of sellers will be at 0.000003.
