The post Is HBAR On Fumes Or Keep On Thrusting? appeared on BitcoinEthereumNews.com.

The Hedera crypto is holding lower on grounds for the last two intraday sessions. The crypto pair took dipped towards the lower side after a short term bull run which helped the crypto break out of a correction phase and reclaim higher levels.  Earlier, the HBAR crypto gathered momentum and climbed above $0.113, breaking out of the correction phase. Last week, the crypto extended its journey slowly and steadily upwards, which could be an early sign of a breakout. However, the buyers played aggressive bullish bets on Monday due to which the price lifted off nearly 25% on Monday. The breakout on the higher side has invalidated the short-term correction phase.  Currently, the price is edging lower in the last two sessions. It might be due to the profit booking after a short-term gain. The crypto may resume to draw an upward trajectory if rises again after a pullback. Short term Analysis of Hedera Crypto Currently, the Hedera price is headed downwards for the last couple of sessions after a breakout. The $0.092 level may act as a demand zone and the price may resume on the higher side again if the bears fail to make a sharp reversal.  Fresh upside moves may be observed on the charts if the price breaks above the recent high which is also the recent supply level of $0.113 level. Hedera Crypto Indicator Analysis From a technical perspective, the HBAR price stays comfortably above the key EMAs of 20, 50, and 200-Day EMAs suggesting a positive outlook in the short term and long term. The EMAs may act as a dynamic support if the price nears those levels. At the time of writing, RSI was placed at 70.20 points somewhere in an overbought zone. The 14-Day SMA line was placed at 64.89 points and…

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Filed under: News - @ February 22, 2024 1:08 am