💎 Let's take a closer look at #HBARUSDT, which has been on a steady climb within a wedge pattern over the last two months. In early August, the price found support at the significant psychological level of $0.05. This level coincides with the mid-term demand zone and also aligns with the 200 Simple Moving Average, reinforcing $0.05 as a crucial area to monitor.
💎 After bouncing off this support zone, #HederaHashgraph ascended, only to be halted at the wedge's upper boundary, effectively bouncing off the resistance trendline. This could suggest two potential bullish scenarios: a more substantial correction downward, possibly to the wedge's bottom, or a brief break below the uptrend trendline to gather fresh buying liquidity before continuing upward.
💎 At the same time, a break above the wedge could lead to a rapid rise towards the $0.076 double Fibonacci resistance, and we must be prepared for both of these bullish possibilities.
💎 The less likely scenario is a trend reversal to the downside, which would only occur if #HBARUSDT breaks below demand zone, 200SMA and the $0.045 support. Such a move would undoubtedly tip the scales in favor of the bears. Stay tuned, Ladies and Gentlemen of ParadiseClub, as we continue to navigate the dynamic world of crypto!
Trade closed: target reached
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💎 Just days after our #HBARUSDT prediction was shared, the price hit our double Fibonacci resistance target, delivering a 37% profit. The pinpoint bounce off the $0.076 resistance level underscores its significance in upcoming price movements.
💎 If the price remains below this resistance, we might witness prolonged consolidation or a notable pullback. Conversely, a firm break above the $0.076 resistance could see it morph into a demand zone.
💎 In such a scenario, the uptrend is likely to persist with high certainty. Paradisers, rest assured, our MCP team will keep you updated on any crucial price shifts concerning #HBAR. Stay informed and keep thriving in the dynamic world of crypto!