HBAR Technical Analysis: Cryptocurrency Is At A Low Start
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The $0.2 test without increasing trading volumes and volatility increases the chances of our main scenario - the formation of a new growth wave. The first growth target is $0.33, the final one is $0.45. To begin implementing this scenario, the HBAR price must first go beyond the wedge in which it will be traded from November 2021. If buyers can break through and keep the local mark of $0.2365, this will signal the beginning of a new growth wave in the HBAR market. An alternative cryptocurrency scenario for HBAR will take effect if buyers do not keep the $0.18 mark and are unable to keep above $0.2 when attempting a counterattack. In this case, we expect the price to fall to $0.13. However, this scenario is not relevant yet.
Technical Analysis Of HBAR On The Daily Timeframe
Analyzing the HBAR price movement on the daily timeframe, the $0.18 test option cannot be ruled out before the start of a new growth wave. So, lately, buyers are quite skillful in keeping the HBAR price and do not allow daily candles to close below $0.2. However, the false breakdown of the consolidation triangle formed on 24 January is exactly what will help the HBAR market to form a new growth wave.
First, the number of investors keeping HBAR now will decrease. Their positions will be closed manually due to panic or stop orders. This will reduce the number of potential sellers and force investors to buy HBAR again during the active growth phase. Therefore, while the HBAR is below $0.2365, the probability of a $0.18 test remains high. In order to buy HBAR cryptocurrency confidently and with low risks, you need to wait for the breakdown of the $0.2365 mark and local price correction. If buyers can stop the local correction in the range of $0.21, the purchase of HBAR will be quite safe and the stop order will have a short distance from the price of entering the position.
The HBARBTC Price Is Ready For A Global Reversal
The potential investment in HBAR looks pretty tasty when you look at HBARBTC weekly chart. On the chart we see that buyers after the local growth impulse from December 2021 were able to keep the correction within the global trend line. For the second week in a row, the price is clearly slowing down. The probability of a new growth wave from mid-March is as high as possible.
The first serious target of buyers is the mark of 0.00000758. This is about 45% growth from the price range on 12 March. In this note, you need to carefully monitor whether sellers still have the strength. An increase in trading volumes and a decrease in volatility in the range of 0.00000758 will mean the presence of sellers and readiness to form a new fall wave.