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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

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    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.

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