$HBAR /USDT technical analysis for with trade signals and target levels:
Technical Analysis:
Current Price (HBAR/USDT): $0.30021
24h High: $0.35228
24h Low: $0.29226
Price Change (24h): -7.89%
Trend Analysis:
Short-Term Trend: Bearish (downward pressure evident with the price drop over the last 24 hours).
Medium-Term Trend: Neutral, as the price fluctuates within a narrow range of $0.292-$0.352.
Long-Term Trend: Bullish, considering HBAR's growth potential within the Layer 1 blockchain ecosystem.
Support & Resistance Levels:
Support Level: $0.29226 (recent 24h low, strong support zone).
Resistance Level: $0.35228 (24h high, recent resistance point).
Key Indicators:
RSI: 39 (Near the oversold region, indicating a potential bounce).
MACD: Negative crossover, suggesting a short-term bearish trend.
Volume: Decreasing volume suggests consolidation, but further bearish momentum may occur if the volume increases on down moves.
Trade Momentum:
The market sentiment is bearish at the moment, with price action showing a downward trend.
A break below the support level ($0.292) could trigger further bearish pressure.
A recovery above $0.300 could indicate a potential short-term reversal or consolidation.
Trade Signals & Targets:
1. Bearish Scenario (Short Trade):
Entry: If the price breaks below $0.292 (confirmed support breach).
Target 1: $0.285 (next support zone).
Target 2: $0.275 (further downside).
Stop-Loss: $0.305 (just above the resistance zone).
2. Bullish Scenario (Long Trade):
Entry: If the price moves above $0.300 (indicating a short-term reversal).
Target 1: $0.320 (initial resistance).
Target 2: $0.335 (next major resistance).
Target 3: $0.350 (previous high level).
Stop-Loss: $0.290 (below the support zone).