technical analysis for the $HBAR /USDT pair, along with potential trade signals and target levels based on recent price action:
Current Price: $0.17816
24h High: $0.18209
24h Low: $0.16419
Key Support and Resistance Levels:
Support: $0.164 - $0.166 (24h low and recent consolidation area)
Resistance: $0.182 - $0.186 (24h high and potential breakout zone)
Trend Analysis:
Short-term Momentum: Bullish (+5.31% in the last 24 hours), indicating buying pressure is increasing.
Medium-term Momentum: Neutral to slightly bullish, as HBAR remains within a range, but its recent uptick suggests an attempt to break above resistance.
Indicators:
RSI: Currently around 60-65, which is neutral to slightly bullish.
MACD: The MACD histogram is showing positive momentum, indicating a potential for further bullish movement if it remains above the signal line.
Trade Signals and Target Levels
Buy Signal:
Consider buying near $0.165 - $0.170, especially if there’s a bounce off support. A close above this level could suggest further upward movement.
Target Levels:
1. First Target 🎯: $0.182 (near 24h high) – If the price breaks above this level, expect further upward movement.
2. Second Target 🎯: $0.186 - $0.190 – A potential breakout point, where the price could face resistance from previous highs and sellers.
3. Third Target 🎯: $0.200 – Psychological resistance level, also aligning with past peaks.
Sell Signal:
Consider taking profits near $0.182 - $0.190 range, depending on price action. If there’s a strong rejection from resistance, look to exit positions.
Stop-Loss:
Place a stop-loss near $0.160 - $0.164 to minimize risk in case the price breaks down below support.
Trade Momentum:
If the price sustains above $0.178, bullish momentum is likely to continue with potential to test higher resistance levels. However, a reversal below $0.170 could signal weakening bullish momentum, so be cautious.