HBAR Price Faces Overhead Resistance: Signs of a Potential Pullback Emerge

In the recent sessions, the #HBAR price has shown notable activity on the 4-hour chart, catching the attention of traders and investors alike. The closing prices have progressed from $0.1123 to $0.1167, indicating a subtle uptrend within the observed timeframe.

The 9 Exponential Moving Average (EMA) has consistently climbed from $0.1104 to $0.1141, staying below the price action and signaling a bullish trend as it supports the price from below. Similarly, the 20 EMA has increased from $0.1095 to $0.1118, also supporting the price levels and reinforcing the bullish sentiment in the market.

The Moving Average Convergence Divergence (MACD) has shown an upward trend with the MACD line (0.0021) staying above the signal line (0.0012) in the latest reading, suggesting sustained buying momentum. The histogram values have also increased, further confirming bullish conditions.

The Relative Strength Index (RSI) peaked at 70.47, indicating a strong buying pressure before slightly retreating to 65.31. This suggests that while the market is approaching overbought conditions, there is still potential for upward movement before any major retracement.

As the $HBAR price tests the near-term resistance at $0.1172, traders should watch for a potential break above this level, which could open the path to higher resistance levels at $0.1191 and $0.1192. Conversely, support levels at $0.1154, followed closely by $0.1141 and $0.1135, will be critical if the price faces downward pressure. A breach below these supports could indicate a shift to bearish momentum. #Hedera #write2earn🌐💹 #TrendingPredictions #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.