🚀🚀🎯🔥technical analysis and trade signal for the $HBAR /USDT :🔥🎯🚀🚀
1. Current Price: $0.29394
24h High: $0.30020
24h Low: $0.27554
2. Trend Analysis:
Support Level: $0.27554 (24h low) — A key support level where price tends to bounce.
Resistance Level: $0.30020 (24h high) — A key resistance level that has capped the recent bullish movement.
SAR Value (0.02, 0.2): $0.28623 — A potential trend reversal level. If the price breaks below this, it could signal a shift to bearish momentum.
3. Momentum:
The price has shown a +5.18% gain in the last 24 hours, indicating bullish momentum. However, the short-term movement shows some volatility with a slight pullback in the 4h (-4.83%) and 15m (-1.73%) intervals.
The Relative Strength Index (RSI) and MACD indicators would be useful here for further confirmation of momentum, but based on price action, we could be looking at a bullish continuation if support holds at $0.28623.
Trade Signal:
Entry Price: $0.29394 (current market price)
Target Levels:
1. Target 1: $0.30000 — A key resistance level where profit-taking might occur.
2. Target 2: $0.31000 — Potential price move if the bullish momentum continues and overcomes $0.30000.
3. Target 3: $0.32000 — The next major resistance level after $0.31000.
Stop Loss: $0.28623 (based on the SAR value), which is the trend reversal level.
Trade Momentum:
Bullish Momentum: The price has shown consistent upward movement, with support at $0.28623. The price is likely to reach Target 1 ($0.30000) if it continues this momentum.
Bearish Reversal Risk: If price drops below $0.28623, a bearish reversal might take place, and the trade should be reconsidered.
Summary:
Entry: $0.29394
Target Levels: $0.30000 → $0.31000 → $0.32000
Stop Loss: $0.28623