en
Back to the list

HBAR Technical Analysis: After Correction the Growth to $0.7 Is Possible

source-logo  cryptoknowmics.com 21 November 2021 11:34, UTC

Continued HBAR price growth by 80% up to the trend line was at risk of failure. In September-October, buyers looked confident and tried to buy off sellers in the range of $0.33-$0.36. Now in the weekly timeframe, the initiative has practically passed to sellers. The trend line, which kept the price from July 2021, was broken this week. Although buyers were able to redeem most of the fall, the very fact of admitting to such a situation indicates the weakness of buyers. Buyers' last chance is to keep HBAR above $0.33-$0.36 for the next two weeks. In this case, it will be the final stage of fixing the HBAR price before the start of growth with the first serious target of $0.7.

https://www.tradingview.com/x/p9ygYnra/

In case buyers lose control over the range of $0.33-$0.36, sellers will have the way to the mark of $0.24. At this point, the HBAR price had slowed down both when moving up and when moving down in history. The clear interest of market participants in this range can be a good foothold for market reversal in the event of a negative scenario. Trading volumes on the weekly timeframe since October remain average. After aggressive attempts to push the price below $0.33-$0.36 in September, sellers changed tactics and decided to take it for granted. Now the tactic of stable pressure on the price has turned into the tactic of aggressive attack. Let's see how buyers will react to this within 2 weeks.

Technical Analysis of HBAR in the Daily Timeframe

https://www.tradingview.com/x/xkPlQKmL/

Analyzing the HBAR chart on the daily timeframe, you can see how the local growth trend begins to wither like an unsprung flower. If at first buyers confidently kept the black trend line, then starting from 27 October, the price began to periodically break it down. Now, sellers have managed to take control of it. However, the HBAR price movement has shifted to another red channel with a smaller angle. If buyers fail to break the $0.415 mark, it will be a signal of preparation for a local fall wave with a target of $0.3. This wave will be the first step towards the reversal of the HBAR market with a global target of $0.24.

HBARBTC Price Has the Prospect of Falling by 20%

https://www.tradingview.com/x/FBw7YDiG/

The situation on the HBARBTC market looks much calmer. Although sellers still have the prospect of reducing the HBAR price by 20%, the overall picture looks to continue to grow. The HBARBTC chart clearly shows how buyers are forming a powerful foothold for a new growth wave. The red trend line and the orange range 0.0000048-0.0000051 are the mainstays of buyers. And they perfectly cope with all attacks of sellers. Therefore, we expect the last local impulse of the HBARBTC price to fall before the new medium-term growth wave.

cryptoknowmics.com