$HBAR HBAR/USDT Analysis: Bearish or a Fakeout?

HBAR has shown impressive movement recently, but the current chart signals the potential for a bearish pullback. Here’s the breakdown:

Bearish Indicators:

1. MACD Weakness: The MACD line is crossing below the signal line, with the histogram turning red, signaling decreasing momentum.

2. Resistance at $0.31: Price has failed multiple attempts to break through this resistance, showing strong selling pressure.

3. RSI Decline: The RSI is dropping from overbought levels and sits at around 60, indicating slowing bullish momentum.

4. Volume Decrease: OBV shows a slight decline, suggesting buyers are stepping back.

Key Levels to Watch:

• Support: $0.28 is critical. If broken, $0.25 could be the next target.

• Resistance: $0.31 remains the key level for bullish continuation.

Possible Scenarios:

• Bearish Break: If HBAR falls below $0.28, it could signal a deeper correction. Consider setting tight stop-losses for long positions.

• Bullish Rebound: Watch for consolidation above $0.28 and a breakout above $0.31, which could indicate a recovery and invalidate the bearish setup.

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