HBAR Technical Analysis: The Price Is at the Critical Point $0.25-$0.27
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Trading volumes in the HBAR market have not changed and remain low. Last week, sellers tried to start the correction and fix below the $0.21 mark. The weekly chart shows that this local mark was a small problem for buyers in late July. It was then that the HBAR market began to form a new growth wave and within 2 weeks could not fix above the mark of $0.21. Globally, the HBAR price continues to move in the growth channel, based at the top of it.
Technical Analysis of HBAR on a Daily Timeframe
The impact of the $0.21 mark on the HBAR market is particularly noticeable in the daily timeframe:
Starting from 26 July, this mark is like a magnet and constantly attracts the price and prevents the development of trend movements. It would seem that the last time buyers fixed above this mark during 26 July-12 August ended successfully. We saw a good HBAR price impulse on increased volumes. It seemed that all the conditions for continued growth were fulfilled. However, sellers again lowered the price to the above-mentioned mark, demonstrating that there are still many of them in the HBAR market.
The current local growth wave, which buyers started on 19 August, looks rather weak. The probability that the price will continue to move in the local black channel is quite high. The main target of the new consolidation in this channel is to buy out all those who want to sell HBAR to continue active growth. The first target of the current growth wave is around $0.285
HBARBTC Price Completes Consolidation and Prepares to Shoot
Analyzing the HBARBTC price chart, we see that the struggle within the consolidation is not over. Buyers stopped allowing local highs to be updated and switched to triangular consolidation.
For this reason, we do not see an active phase of HBAR price growth against the USDT. Depending on what the correction of the BTC price will be in the near future, it will be possible to understand in which direction the HBAR price plans to shoot from the triangle. Though, the probability of re-testing the lower limit by the end of the week, in any case, is quite high.