HBAR Technical Analysis
Key Insights
- The coin is recovering from a severe decline.
- HBAR is overcoming the upper boundary of the range, as seen on the price chart.
- Given the current trends we may see a return to price highs in the future.
As of writing, HBAR holds the 31st position on CoinMarketCap ranking with a market cap of $3.6B.
HBAR Technical Analysis
Studying the trends in the asset's movement over the past two years reveals interesting dynamics.
Starting from a severe decline, the asset has established itself in a long accumulation phase. This period was characterized by a stable price range from $0.0358 to $0.0987, within which there was active price movement. Volatilityin this range exceeded 170%.
Currently, we observe on the asset price chart: overcoming the upper boundary of the range. This occurs with the increase in trading volumes, which may indicate a change in the market sentiment and strengthening of the bulls' positions. Nevertheless, there are attempts to retest the breakout level to make sure of its strength.
HBAR Price Prediction
We assume that HBAR may face a temporary decline after the growth period. We suggest neither buying nor selling the coin.
In the long term, we may encounter a correction after the impulsive growth, which may lead to a decline in the value of the asset to the level of $0.0797.
However, it should be noted that this level represents a significant support point, from where we can expect a confident rebound in the price. Upon completion of the correction, we will probably be able to return to the local price highs and continue the uptrend.
Users can get HBAR for fiat or crypto on SimpleSwap.
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