Coinpedia-Market-Insight

HBAR Price Aiming for $0.10 Breakout

Long
BINANCE:HBARUSD   Hedera Hashgraph
Current Momentum: HBAR is experiencing a breakout rally, aiming to hit $0.12.

Psychological Barrier: The focus is on the crucial $0.10 mark, a significant psychological level for HBAR.

Pattern in Play: The rally follows a double bottom breakout in the daily chart, indicating bullish potential.

Weekly Kickoff: The week starts with a 10.86% jump for HBAR, currently trading around $0.0951.

Intraday Observations: A recent 2.07% drop forms a shooting star candle, hinting at resistance near $0.10.

Market Support: Bitcoin’s movement to $45K and a rise in trading volume underpin HBAR’s bullish scenario.

Entry Signal for Traders: A decisive break above $0.10 could be a key entry signal for those on the sidelines.

Technical Indicators:

MACD: Recent crossovers show indecision, but the current positive alignment suggests bullish momentum.
Next Milestones: Breaking $0.10 could lead to a further rally, potentially towards $0.12.

Risk Assessment: Despite bullish signs, failure to maintain momentum could see a pullback to around $0.060.

Overall Outlook: HBAR’s price trajectory is promising, with a strong focus on sustaining the rally above $0.10 for continued bullish momentum.


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