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Peter Oleshchuk
May 4, 2022
by Peter Oleshchuk

HBAR Technical Analysis: Sellers Have To Rest

HBAR

Table of contents

  1. Technical Analysis Of HBAR On The Daily Timeframe
  2. The HBARBTC Price Stopped At The Level Of 0.00000350
Slowly, passively, but confidently, sellers forced HBAR price to creep to the bottom of the global growth channel trend. In this channel, the HBAR price has been moving since December 2019 and has never left its borders. Therefore, the importance of the current test of the lower trend line is as great as possible. Sellers managed to update the local low from 21 June. However, this did not cause the wave to continue to fall. On the contrary, the update at least on low volumes indicates a lack of strength of sellers and lack of panic among investors. If buyers are able to keep the mark of $0.14 for the next few weeks, we will expect at least a local growth wave to reach the mark of $0.27.

HBAR

Why aren't we positive enough and don't publish more optimistic targets? The fact is that it is necessary to see the struggle and fire in the eyes of buyers. And at the moment, buyers are covered with a warm blanket and do not want to leave the comfort zone. If the situation in the HBAR market changes and we see an increase in trading volumes and active solid candles on smaller timeframes - in this case, we can expect continued growth to $0.46. But, dreams are dreams, and we must live in reality.

Technical Analysis Of HBAR On The Daily Timeframe

HBAR

Analyzing the movement of HBAR price on the daily timeframe, we can state the fact that the price has stopped. Curtain. There is no signal of the strength and willingness of buyers to keep the price. Thus, increased trading volumes near the trend line were recorded. However, they look enlarged relative to the neighbor daily candles. If we analyze the trading volumes in critical global points on the HBAR chart, we will see that now it is children's entertainment for market participants. We do not expect such a trade situation to be a sharp boost.

Given the ease of falling HBAR prices throughout April, buyers should first set up a consolidation corridor with an upper limit of $0.2. After a few weeks of HBAR price movement within this corridor, buyers will have a chance to organize the growth wave with the first target of $0.27. A sharp attempt to grow buyers right now will help sellers increase their positions at better prices and continue to put pressure on the price. And buying off all the offers of sellers at local lows will allow them to be trapped and after a while will force them to fix their positions on market stop orders.

The HBARBTC Price Stopped At The Level Of 0.00000350

HBARBTC weekly price timeframe realized the first target of sellers. The HBARBTC price stopped at an important level of 0.00000350. The reason for the new impulse of the fall was the loss of control over the range of 0.00000500. Buyers actually gave up their territories without a fight. This is clearly seen in the trading volumes and weekly candles, which sellers were able to push prices down. If during the trading week on 2 May sellers will not be able to push the price below 0.00000350 - we will expect the beginning of the formation of forces to rebound HBAR price. The main target is 0.00000500.

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HBAR Technical Analysis: Sellers Have To Rest
Peter Oleshchuk
Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

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