HBAR is currently facing a critical price level around $0.234, with potential dips to $0.22 expected. Traders should remain cautious as market conditions evolve.
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HBAR has recently dipped below the Value Area High of $0.264, indicating potential bearish sentiment.
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The $0.285-$0.3 zone remains a significant resistance level for HBAR.
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Technical indicators suggest waning bullish strength, with capital outflows observed.
Discover the latest insights on HBAR’s price movements and key market levels. Stay informed and make educated trading decisions!
What is HBAR’s Current Market Position?
HBAR is currently trading below the Value Area High at $0.264. This level, identified using the Fixed Range Volume Profile, indicates a potential area of resistance. A dip to the $0.22 mark could present a buying opportunity if market conditions remain favorable.
How Does HBAR’s Price Structure Look?
The price action shows HBAR struggling to break above the $0.3 resistance level. On July 27, HBAR reached a high of $0.305 but has since retraced. The overall market structure remains bullish, supported by earlier gains in July.
Frequently Asked Questions
What are the key support levels for HBAR?
The key support levels for HBAR are around $0.234 and $0.22. A break below these levels could signal a bearish trend.
How can traders prepare for potential price dips?
Traders should consider setting buy orders around the $0.22 level while keeping an eye on Bitcoin’s performance, as it influences HBAR’s price movements.
Key Takeaways
- HBAR bulls need to be cautious of a price dip to a nearby liquidity pocket. A dip to this demand zone would be followed by a bullish reversal, provided Bitcoin can remain above $112k as well.
- Hedera [HBAR] was back below the Value Area High at $0.264. This VAH was plotted using the Fixed Range Volume Profile, using price action from the beginning of the year to press time.
- COINOTAG had noted that the $0.285-$0.3 was a key supply zone for HBAR. This has proven true once again.
Conclusion
In summary, HBAR is currently facing critical support levels that traders should monitor closely. The market remains bullish in the long term, but caution is advised as potential dips could occur. Staying informed and prepared is essential for navigating the current market landscape.
Source: HBAR/USDT on TradingView
Source: Coinglass
