HBAR Technical Analysis: The Target Of $0.05 Is Ahead
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Therefore, the price continued to fall at its usual low volumes. So far, there is a similar trend in the HBAR market - buying cryptocurrency is quite dangerous. So far, the BTC price shows no signs of strength and the probability of continuing to fall below $20,000 is still high. Thus, we would not recommend considering a cryptocurrency for investment earlier than $0.05 per HBAR. Buyers had been in this price range during the whole of 2020. Only in January 2021, the HBAR price was able to break the mark of $0.05 up. Given the importance of this price level, we will expect a rebound from the first target of $0.13. This rebound can be very fast and will be accompanied by knocking out of the positions of sellers. That's why, when buying HBAR, we recommend that you place limit orders for sale in the range of $0.13 in advance.
HBAR Technical Analysis On The Daily Timeframe
Given the fact that the HBAR price significantly updated the local lows in May-June 2021, this cryptocurrency can not be considered strong. In addition, at the last local low update by Bitcoin price, HBAR did not hold back and repeated the movement. Many other cryptocurrencies have managed to keep their local lows and are preparing for growth. Until HBAR shows strength and moves in the local fall channel, it will not be of interest to investors. The current probable price rebound is possible up to $0.08. From this mark, we will expect another fall wave to the mark of $0.05. While the trading volumes gradually increase when approaching the mark of $0.05. This is a good sign that shows the growing interest in HBAR in the daily timeframe. However, it is worth remembering that the market is now in a strong bearish phase. Investing in cryptocurrency now should be prepared for drawdowns or local losses in the form of stop orders.
The HBARBTC Price Is Frightening With The Prospect Of Falling
HBAR weekly chart shows us ease. Ease of the price fall and its prospects. While the HBARBTC price is moving in a large growth channel. On 9 May, sellers were able to test its bottom line. After this incident, buyers were unable to counterattack and now the price is gradually falling to 0.00000170. While sellers are under the control of the mark 0.00000330 - the HBARBTC price fall has every chance to continue. If buyers manage to test the mark of 0.00000330 in the near future- this will be a great chance for sellers to open new positions for the fall of HBARBTC. At the time of writing, there is little positive for investors. Let's see if buyers will be able to somehow improve the situation by the end of June.