Technical Analysis on HBAR/USDT – 3 Price Targets to Watch 🎯
The HBAR/USDT pair has shown a strong upward movement recently, with the price currently sitting at $0.04768, up 11.01% over the past 24 hours. Let's take a deeper look at the price action and potential target levels for traders to keep an eye on.
Key Levels:
Current Price: 0.04768 USDT
24h High: 0.04784 USDT
24h Low: 0.04280 USDT
Volume: HBAR (229.78M), USDT (10.31M)
Technical Indicators:
Parabolic SAR (Support Level): 0.04282 USDT — indicating bullish momentum as the price is currently above this level.
MACD: Currently bullish with increasing momentum, suggesting the trend could continue upwards.
RSI (Relative Strength Index): Near 60 — indicating healthy buying pressure without being overbought yet.
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Price Targets 🎯:
1. First Target: $0.04850
With the recent upward momentum, a short-term target at $0.04850 is within reach. This level aligns closely with the recent 24h high and represents the next resistance point. If HBAR breaks through this, further gains could be expected.
2. Second Target: $0.05000
The $0.05000 mark is a psychological resistance level and would represent a significant breakthrough above the recent highs. A break above this level could fuel a continuation of the bullish trend, potentially bringing HBAR into a new range of support.
3. Third Target: $0.05200
Longer-term, $0.05200 could be a key target. This level would represent a more significant price move and possibly a retracement to support for continuation. Watch for signs of consolidation before a breakout if HBAR approaches this target.
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Risk Management:
Stop Loss: If the price drops below the SAR support at $0.04282, consider setting a stop loss to manage potential downside risk.
Monitoring Volume: Pay attention to trading volume. A sharp increase in volume near resistance levels could confirm bullish breakouts, while low volume near resistance suggests caution.
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{spot}(HBARUSDT)
