$HBAR HBAR/USDT 4-Hour Analysis: Correction Expected After Strong Rally

Market Overview:

• Last Price: $0.20467 (+20.30%) – Overextended rally, ripe for correction.

• 24H High: $0.20558 – Significant rejection zone; watch for profit-taking.

• 24H Low: $0.16419 – Initial support to monitor for downside targets.

Indicators Suggesting Correction:

1. Moving Averages:

• MA(5): $0.17817 – Price significantly above, indicating overextension.

• MA(50): $0.15003 – Far below current levels, showing overbought conditions.

2. RSI:

• RSI(6): 90.04 – Extreme overbought territory, signaling potential pullback.

• RSI(12): 82.26 – Confirming overbought status with loss of upward momentum.

3. MACD:

• Bullish momentum still present but showing early signs of slowing down.

4. OBV:

• Elevated volume indicates strong buying, but a sudden drop could trigger sell-offs.

Support & Resistance:

• Immediate Resistance: $0.2050 – Expect significant selling pressure near this level.

• Immediate Support: $0.1900 – First target for a correction.

• Key Support Zone: $0.1750 – Stronger support in case of extended downside.

Correction Trading Plan:

• Short Entry:

• Range: $0.2020–$0.2050

• Target 1: $0.1900

• Target 2: $0.1750

• Stop-Loss: $0.2100

Key Observations:

• The rally has pushed indicators into extreme overbought zones.

• Momentum is slowing, and a correction is expected as buyers lock in profits.

• Watch for a rejection near the $0.2050 resistance to confirm the setup.

Summary:

HBAR has had an impressive run, but the overbought indicators and resistance near $0.2050 point to a likely correction. Swing traders should look for short opportunities with tight risk management to capitalize on the downside potential.

Stay cautious and plan your trades effectively!