The HBAR market is developing predictably and without significant price fluctuations. We anticipated a gradual decline in the HBAR price to $0.2 in our prior research a month ago. Sellers confidently implemented this situation for four weeks. We witness significantly elevated trade volumes and a weekly candle with a tiny body during the trading week of 21 February. This fact shows that sellers have mostly lost the battle. Please note that sellers were unable to update the local low utilizing bigger trading volumes than those seen during the weekly candle on 24 January. After the weekly candle closing on February 21, the sellers’ initiative ceased to exist.
Without rising trading volumes and volatility, the $0.2 test improves the likelihood of our primary scenario – the emergence of a new growth wave. The first target is $0.33, and the second is $0.45. To begin implementing this scenario, the HBAR price must first break through the wedge inside which it will trade beginning in November 2021. If buyers can maintain the $0.2365 local mark, this will signify the start of a new growth wave in the HBAR market. A different cryptocurrency scenario for HBAR will take effect if purchasers fail to maintain the $0.18 level and are unable to maintain a price over $0.2 during a counterattack. In this situation, we anticipate a drop to $0.13. However, this possibility is immaterial at the moment.
Daily Technical Analysis Of HBAR
Using the daily timescale to analyze the HBAR price movement, the $0.18 test option cannot be ruled out prior to the start of a new growth wave. Thus, buyers have been fairly adept at maintaining the HBAR price recently, refusing to allow daily candles to shut below $0.2. The erroneous breakdown of the consolidation triangle produced on 24 January, on the other hand, is precisely what will assist the HBAR market in forming a fresh growth wave.
To begin, the number of investors who retain HBAR will decline. Due to panic or stop orders, their positions will be manually closed. This reduces the pool of possible sellers and forces investors to reinvest in HBAR during the active growth phase. Thus, as long as the HBAR is below $0.2365, the likelihood of a $0.18 test remains high. To acquire HBAR cryptocurrency with confidence and little risk, you must wait for the $0.2365 mark to be broken and a local price adjustment. If buyers can halt the local correction in the $0.21 zone, the purchase of HBAR will be relatively secure, and the stop order will be close to the entry price.
The HBARBTC Price Is Getting Ready To Reverse Globally
When viewed in conjunction with the HBARBTC weekly chart, the potential investment in HBAR becomes quite appetizing. On the chart, we can see that buyers were able to contain the correction within the global trend line following the December 2021 local growth impetus. For the second consecutive week, the price has visibly slowed. The possibility of a new growth wave beginning in mid-March is extremely strong.
The 0.00000758 mark is the first significant objective of buyers. This represents a roughly 45 percent increase over the price range on 12 March. You must closely monitor whether sellers retain their strength in this note. Increased trading volume and decreased volatility in the 0.00000758 region indicate the presence of sellers and their preparation to build a new fall wave.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.