$HBAR Analysis. A Closer Look at the Descending Triangle Pattern
Hedera Hashgraph ($HBAR) is forming a descending triangle pattern on the 4 hour chart, a common setup in technical analysis that typically signals a potential breakout.
Here’s what you need to know.
Current Pattern Overview.
Pattern. Descending Triangle.
Key Resistance Level. Around $0.33
Support Zone: $0.28 to $0.30
Breakout Direction. Can go upward (bullish) or downward (bearish) depending on momentum.
Buy Zone (Entry Points).
Safe Entry. Wait for a confirmed breakout above $0.33 with strong volume.
Risky Entry. Start accumulating near the support zone between $0.29 - $0.30, provided there's no breakdown below this level.
Target Levels.
First Target. $0.33 (Initial breakout level).
Second Target. $0.38 (Measured move from the triangle's height).
Extended Target. $0.40 (In case of strong bullish momentum).
Stop Loss.
Set your stop loss below $0.28 if entering at the support zone to minimize losses in case of a breakdown.
For breakout trades above $0.33 a stop-loss at $0.31 is advisable.
Indicators Supporting This Analysis.
RSI Currently near neutral.
A move above 60 would confirm bullish momentum.
Volume. Watch for increased trading volume to validate the breakout direction.
Moving Averages. The 50 and 200 EMA are key for spotting trend confirmation.
Key Observations
A bullish breakout could push $HBAR to test the $0.38 resistance quickly.
A bearish breakdown below $0.28 may drag prices toward $0.25 or lower so managing risk is crucial.
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