- After the rise from a strong support area, it will likely first aim to test the $0.06182 level.
- In the event of a support breakdown, we may see a downward move towards the $0.04202 level.
- Finally, we discussed how the rise could go up to the $0.07322 level.
Where can HBAR initiate an uptrend? What roles will HBAR play in the support zone? Which levels will it want to test during the uptrend? We’ve covered the answers to all these questions in our article.
LONG-TERM HBAR ANALYSIS
HBAR, which has experienced sharp declines, is currently moving towards the strong support zone of $0.04566 – $0.04424. If it finds strong buying interest in this price range, it will aim to start an uptrend and test the specified resistance zones.
First, it will aim to rise to $0.06182, and if we see candle closes above $0.06182, it will aim to rise to the price range of $0.06773 – $0.06930 and attempt to test the $0.07322 level.
If the support of $0.04566 – $0.04424 is broken, we may see a drop first to the $0.04202 level, and if we see a daily close below that, we could see a decline to the price range of $0.03953 – $0.03775.
SHORT-TERM HBAR ANALYSIS
Starting from the strong support zone of $0.04792 – $0.04777, HBAR continues to rise, forming an uptrend in green. If we see 30-minute candle closes above the support zone and the green uptrend, it will continue to rise.
It may want to extend its rise to the red downtrend. If we see 30-minute closes above the red downtrend, we could see an uptrend move towards the levels of $0.05043 – $0.05062.
