menuIcon
$ 94,878.4
BTC
$ 94,878.4
0.11 %
$ 1,829.52
ETH
$ 1,829.52
1.27 %
$ 0.7119
ADA
$ 0.7119
-1.01 %
$ 607.76
BNB
$ 607.76
0.20 %
$ 148.76
SOL
$ 148.76
-1.90 %
Vikram
Apr 8, 2022
by Vikram

HBAR Technical Analysis: Sustenance Above $0.20 Hints Bullish Reversal

HBAR
HBAR coin price shows a bullish reversal of 5%, helping it float above the $0.20 support zone. However, the falling bullishness. 

Key technical points:

  • HBAR prices have increased by 3.64% in the past 24 hours.

  • In addition, the price faces rejection from the 50-day EMA.

  • Finally, the 24-hour trading volume of Hedera Hashgraph is $120 Million, marking a 40% rise.

    • Past Performance of HBAR

    HBAR coin price faced a rise in selling pressure as it approached the resistance confluence of the 200-day EMA and the $0.25 psychological barrier. The downfall cracks under the 100 and 50-day EMA resulting in the $0.25 retest. However, the bulls step in to keep the prices floating above the psychological mark. 

    TradingView Chart

    HBAR Technical Analysis 

    HBAR coin price fell by 15% from $0.25 within 72 hours, resulting in giant bearish candles, but the fighting bulls drove the prices higher by 5%. Nonetheless, the long-wick formations warn of a bearish continuation tomorrow.

    The slight uptrend in the crucial daily EMAs takes a flattish turn as the prices fall under the 50-day EMA. Moreover, the EMAs maintain bearish alignment and provide dynamic resistance. 

    RSI Indicator: The RSI slope shows a stepping down action resulting in the crackdown of the halfway mark. Hence, the farming trend of the RSI slope represents the fall in underlying bullishness.

    MACD Indicator: The MACD and signal lines are on the verge of reaching the zero line after the bearish crossover. Hence, the bearishly aligned lines and the negative histogram trend reflect a boom in selling pressure.

    In a nutshell, the HBAR technical analysis indicates high bearish pressure and a high likelihood of a $0.20 fallout.

    Upcoming Trend 

    HBAR coin price experiences a remarkable increase in selling pressure resulting in the $0.20 test. Hence, traders can expect a bearish continuation in the upcoming sessions, but the high trend selling will be observed with a $0.20 fallout.

    Support Levels: $0.20 and $0.16

    Resistance Levels: $0.26 and $0.32

    Follow us on: News
    Hedera Hashgraph HBAR
    HBAR Technical Analysis: Sustenance Above $0.20 Hints Bullish Reversal
    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