menuIcon
$ 103,914.2
BTC
$ 103,914.2
0.93 %
$ 2,415.95
ETH
$ 2,415.95
0.13 %
$ 0.8014
ADA
$ 0.8014
1.44 %
$ 659.67
BNB
$ 659.67
4.07 %
$ 172.96
SOL
$ 172.96
3.95 %
Vikram
Apr 15, 2022
by Vikram

HBAR Technical Analysis: Bearish Comeback Kicks Down $0.20 

HBAR
HBAR coin price breaks underneath the $0.20 support zone and teases a bearish continuation to the $0.15 mark. Should you take the bearish side?

Key technical points:

  • The coin price breaks below the $0.20 mark

  • The HBAR coin price plunged 3.85% within a day.

  • Finally, the 24-hour trading volume of Hedera Hashgraph is $51.57 Million, marking an 18% fall.

    • Past Performance of HBAR

    The HBAR coin price action shows the bears taking down the consolidation range between the $0.20 and $0.26 marks with a downfall of 25% within a fortnight. The downtrend cracks underneath all the crucial EMAs, keeping a sideways trend in the consolidation range. Moreover, the downtrend undermines the recent bullish retracement seen in the past two days.  

    TradingView Chart

    HBAR Technical Analysis 

    HBAR coin price shows the bears taking over the trend control resulting in a downfall below the consolidation and nullifying our previous article. Hence, the fallout indicates a downtrend to the $0.15 mark. 

    The crucial daily EMAs maintain a bearish alignment in the daily chart with a significant bearish spread providing multiple resistance spots.  

    RSI Indicator: The RSI slope shows a sharp decline underneath the halfway mark after failing to creep into the overbought zone. Moreover, the 14-day SMA falls under the 50% line reflecting a boom in underlying bearishness. 

    MACD Indicator: The bearish trend in the MACD histogram regains momentum as the selling pressure grows. Moreover, the fast and slow lines breaking into the negative territory illuminates a selling signal. 

    In a nutshell, the HBAR technical analysis emphasizes the possibility of a bearish continuation below the $0.20 mark.

    Upcoming Trend 

    The HBAR/USD daily chart shows an intense growth in bearish momentum as the fallout rally undermines the bullish retracement. Hence, a retracement to the $0.15 mark seems imminent, marking an excellent selling spot at the current market price. 

    Support Levels: $0.15 and $0.12

    Resistance Levels: $0.20 and $0.25

    Follow us on: News
    Hedera Hashgraph HBAR
    HBAR Technical Analysis: Bearish Comeback Kicks Down $0.20 
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

    Top Picks