Hedera Giving A Multi-Timeframe Showdown, Time To Buy?!

Feb 15

HBARUSD in a Multi-Timeframe Analysis is giving some insight and clues that the current Bullish rally may just be beginning! Let's break it down.

- When looking at the Weekly chart, we can see that if we take a Fibonacci Retracement Tool and go from the Low @ .03567 to the High @ .40100, we can see price on HBARUSD makes a Retracement to the 88.6% Fibonacci Level and a 3rd test of the Falling Support which is part of a bigger pattern, the Falling Wedge.
*This Retracement could mean the end of the Bearish decline!

- On the 8Hr chart we can see price has formed an Inverse Head and Shoulders Pattern, a Bullish Reversal pattern that with a valid Breakout and successful Retest of the Neckline can generate Long Opportunities in price!
*Currently price seems to be making a pullback to that Breakout of the Neckline for the Retest!

- Lastly, the Hourly chart shows that the 200 EMA is sitting right in the area of the Neckline which could serve as great Support for price on the decline. It also aligns great with the Break of Structure that happens with the Neckline serving as a great place to Retest!

Fundamentally, FedEx joining the Hedera Governing Council "signaling deeper enterprise integration and expanding institutional credibility for the network", sees serious support coming in for HBARUSD !

Feb 19

Trade active

Price came down and tested the Neckline after Breaking out of the Inverse Head and Shoulders!