Hedera ($HBAR ) is currently trading at $0.28368, up 3.13% in the past 24 hours, showing resilience compared to other altcoins following the "Trump pump" peak in early December 2024. Unlike many alts, HBAR remains above the critical 4H 200 EMA, signaling potential bullish momentum.
Technical Analysis:
Range Bound: HBAR is trading within a clearly defined range between $0.395 (resistance) and $0.235 (support), with the current price sitting near the midline at $0.25.
Support Zone: The 4H 200 EMA aligns with a bullish order block (OB), forming a strong support level. A breach below this zone would invalidate the bullish outlook.
LTF Downtrend: The price remains in a low timeframe (LTF) downtrend. A breakout from this downtrend could trigger a long position, with the range quarters serving as potential take-profit levels.
Market Context:
With altcoins closely tied to Bitcoin's performance, HBAR's trajectory will likely depend on BTC's movements as the year begins. The current stagnation in price action, attributed to year-end market dynamics, is expected to shift as volume returns and ETFs see continued inflows, boosting positive momentum for HBAR and other alts.
Trade Strategy:
Entry Trigger: Watch for a breakout from the LTF downtrend and consider a retest of the breakout level as a potential entry.
Stop Loss (SL): Set the SL below key supports, including the 4H 200 EMA and bullish OB.
Take Profit (TP) Levels: Use the range quarters as targets, with $0.395 being the primary resistance.
Conclusion:
HBAR is showing promising signs of bullish continuation, provided it maintains key support levels and breaks out of the current LTF downtrend. Traders should remain cautious and adapt their strategies based on Bitcoin's performance in the coming weeks.
Note: Monitor the retest of the breakout, if it occurs, as it will offer more clarity on the direction of the next move.
