technical analysis for $HBAR /USDT with trade signals and three target levels:
Current Price: $0.249
24h Change: +43.35%
Trend: The price of HBAR has shown strong bullish momentum over the last 24 hours. The upward movement indicates that the market sentiment is currently positive, and HBAR is gaining traction.
Key Levels:
Support Level: $0.17173 (24h low)
Resistance Level: $0.25941 (24h high)
Momentum Analysis:
RSI (Relative Strength Index): RSI is above 70, suggesting that HBAR is currently in an overbought condition. This could signal a potential pullback or consolidation before further upward movement.
MACD (Moving Average Convergence Divergence): The MACD is showing bullish divergence, indicating that momentum is still strong, but a slight pullback for consolidation might occur before continuing the bullish trend.
Trade Signals:
1. Entry Signal:
Buy when the price is near support at $0.17173 (after consolidation or retracement), or if there is a break above resistance at $0.25941.
2. Exit Signals:
Take partial profits at $0.25941 (first target).
Set the second target at $0.270 (resistance break level).
Set the third target at $0.280 (higher resistance level from past price action).
Target Levels:
1. First Target: $0.259 (24h high)
2. Second Target: $0.270 (next resistance zone)
3. Third Target: $0.280 (potential strong resistance)
Trade Momentum:
The momentum is bullish, but given the overbought RSI and recent surge, it's advisable to monitor for any signs of a pullback or consolidation before re-entering for further gains. If the price retraces to support levels like $0.220-$0.230, it could be a good opportunity to add more positions.
Make sure to set stop-loss orders around $0.240 to manage risk in case the price retraces back.