-HBAR has fallen nearly -50% over the last week
-Price has formed a descending channel
-15 MA continues to act as resistance
Hedera Hashgraph (HBAR) had outperformed the overall crypto market the week before last as prices have rose nearly 100% from $0.24 to $0.49. HBAR refers to itself as the “trust layer of the internet”. Hedera Hashgraph is a public network that allows individuals and businesses to create powerful decentralized applications (Dapps). HBAR has been growing in popularity & market cap rankings over the last few months as its the 45th largest cryptocurrency. HBAR was designed to be a fairer, more efficient system that eliminates the limitations that older blockchains face.
As we can see on the chart, HBAR blasted to a new all time high just about a week ago as prices hit $0.57. Right around this time was also when BTC started to lose its steam as showed bearish signs. Since then, the entire market has went through a decent size correction as most coins are down over -10%. At the time of writing, HBAR just wicked off a major support level along with a near month long support trend. If bears continue to assert their dominance & pull HBAR below these marks, expect price to land near the $0.25 level.
If bulls regain their strength quickly & pull HBAR back above its minor resistance of $0.306, we can expect a revival to occur. Ever since the high was set on HBAR, prices have been downtrending & have formed a descending channel. HBAR just bounced off the bottom trend of this channel & should now make its way to the top trend. If bulls show their strength & break and hold the major resistance of $0.333 we can then say the downtrend has been broken. Along with this resistance lies the 15 MA which has been acting as a rejection area. Price must fully break & hold this as well to have a chance at revival.
While looking at this Stochastic RSI, we can see strength just spent a lot of time within the oversold region. Since then, strength bounced towards the 50 value & attempted to break it but failed to do so. As long as the stochastic holds the 20 value, we should see a revival occur. The MACD has been downtrending for nearly a week now & the histogram looks ready to tick green. If the MA’s cross bullish, expect HBAR to break its downtrend channel.
HBAR Intraday Analysis
Spot rate: $0.30
Trend: Bearish
Volatility: Medium
Support: $0.283
Resistance: $0.306
-Price has formed a descending channel
-15 MA continues to act as resistance
Hedera Hashgraph (HBAR) had outperformed the overall crypto market the week before last as prices have rose nearly 100% from $0.24 to $0.49. HBAR refers to itself as the “trust layer of the internet”. Hedera Hashgraph is a public network that allows individuals and businesses to create powerful decentralized applications (Dapps). HBAR has been growing in popularity & market cap rankings over the last few months as its the 45th largest cryptocurrency. HBAR was designed to be a fairer, more efficient system that eliminates the limitations that older blockchains face.
As we can see on the chart, HBAR blasted to a new all time high just about a week ago as prices hit $0.57. Right around this time was also when BTC started to lose its steam as showed bearish signs. Since then, the entire market has went through a decent size correction as most coins are down over -10%. At the time of writing, HBAR just wicked off a major support level along with a near month long support trend. If bears continue to assert their dominance & pull HBAR below these marks, expect price to land near the $0.25 level.
If bulls regain their strength quickly & pull HBAR back above its minor resistance of $0.306, we can expect a revival to occur. Ever since the high was set on HBAR, prices have been downtrending & have formed a descending channel. HBAR just bounced off the bottom trend of this channel & should now make its way to the top trend. If bulls show their strength & break and hold the major resistance of $0.333 we can then say the downtrend has been broken. Along with this resistance lies the 15 MA which has been acting as a rejection area. Price must fully break & hold this as well to have a chance at revival.
While looking at this Stochastic RSI, we can see strength just spent a lot of time within the oversold region. Since then, strength bounced towards the 50 value & attempted to break it but failed to do so. As long as the stochastic holds the 20 value, we should see a revival occur. The MACD has been downtrending for nearly a week now & the histogram looks ready to tick green. If the MA’s cross bullish, expect HBAR to break its downtrend channel.
HBAR Intraday Analysis
Spot rate: $0.30
Trend: Bearish
Volatility: Medium
Support: $0.283
Resistance: $0.306
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.