$HBAR 🚀 HBAR/USDT Perpetual: Long Strategy Update 🚀

Current Price: $0.13984 (-4.92%)

24H High: $0.15592

24H Low: $0.13605

Why Consider Going Long?

1. Approaching Key Support Zone ($0.13605):

• The price is close to the recent 24H low, which previously held as a strong support level. Buyers may step in here again.

2. Oversold Signals on RSI:

• RSI(6) is at 31.66, nearing oversold levels. Historically, this has triggered a rebound in similar setups.

3. MACD Showing Early Reversal Signals:

• Although bearish, MACD shows signs of flattening, potentially indicating reduced selling momentum.

4. Volume Surge:

• Strong 24-hour trading activity (2.78B HBAR) suggests significant market interest, increasing the probability of a bounce if support holds.

Long Strategy Plan

• Entry Point:

• Look for entries near $0.13605, the support level. Wait for a bullish candlestick pattern (e.g., hammer or engulfing) or a volume spike for confirmation.

• Take-Profit Levels:

• First Target: $0.146 (short-term resistance at MA levels).

• Second Target: $0.15592 (24H high and key resistance).

• Stop-Loss:

• Place a tight stop-loss below $0.134 to protect against further downside if the support level breaks.

Important Notes:

• Monitor price action and momentum indicators closely.

• If the price breaks below $0.13605, reconsider the strategy or look for re-entry at the next support.

• Keep an eye on Bitcoin’s movements as they often influence altcoin trends.