HBAR Struggles At $0.05081 Amid Bearish Momentum
The post HBAR Struggles At $0.05081 Amid Bearish Momentum appeared on BitcoinEthereumNews.com.
HBAR price action looks indecisive on the charts, but analysts hold out a positive outlook for the crypto. At the time of writing, Hereda Hashagraph (HBAR) was trading at $0.05081, down 4.96% in the last 24 hours. 1-day HBAR trading chart: Source TradingView HBAR went as high as $0.05399 but retracted after suggesting a bearish sentiment. Technical indicators suggest that further downside risk will be present if the current support levels fail to hold. Technical Indicators Signal Bearish Sentiment The price action of HBAR is alternating green and red candles, which signals indecision. The price remains within a narrow range of $0.051 and $0.054 without a clear direction. Additional downside pressure could follow if the price breaks below $0.050. – Advertisement – The MACD indicator shows the MACD line of -0.00008 and the signal line of -0.00042 below zero. The relative strength index (RSI) is 43.94, which indicates that the market bears are starting to take control. Analysts See Potential Breakout if Key Resistance is Overcome According to analyst Maverick, a breakout above $0.0559 represents a bullish reversal. “HBAR is testing key resistance at $0.0559, and a breakout could offer a solid entry opportunity,” he noted. If it goes above this level, it can rise rapidly towards previous highs. $HBAR: Bullish Breakout on the Horizon? After a prolonged downtrend, $HBAR is showing signs of strength. 🔹Holding above the 24h moving average, now testing key resistance at $0.0559. 🔹A breakout above $0.0559 could signal a solid entry opportunity. 🔹Market maker… pic.twitter.com/oW11RD3BMJ — Maverick (@degen_maverick) October 16, 2024 Key resistance levels to watch for HBAR are around $0.07 and $0.10. A failure to hold these could lead to a test of support near $0.050. Fibonacci Levels Provide Key Insights for Future Movements Technical analysis using Fibonacci retracement levels identifies key areas for…
Filed under: News - @ October 19, 2024 7:16 am