TradeCityPro | HBAR: Support Zone and Key Resistance Levels👋 Welcome to TradeCity Pro!
In this analysis, I want to review the HBAR coin,one of the RWA (Real-World Asset) coins, with a market cap of $7.22 billion, currently ranked 19th on CoinMarketCap.
⏳ 4-Hour Timeframe
On the 4-hour timeframe, this coin is sitting on a very important support level. Unlike most altcoins that have lost their support levels, HBAR has managed to stay above its support zone.
🔔 A double top pattern formed below the 0.20789 level, and after the trigger activated at 0.19028, it made a downward move until it reached its support level and hit the pattern's target.
💥 Currently, after the price reached this zone, the market has reacted to it, showing a small bullish correction with low volume.
✨ The price has corrected to 0.17532. If the price gets rejected from this zone, we can consider entering a short position if the support breaks.
✅ If the price stabilizes above 0.17532, it may undergo deeper corrections up to 0.19028.
📊 For a long position, the 0.17532 break is not a very strong trigger because the market's momentum is still bearish. I believe the main long trigger is breaking 0.20789. We can take earlier triggers if a new structure forms.
💡 The main confirmation for a bullish trend will come with a break of 0.23093. For a short position, as mentioned, our trigger is the break of the support zone.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
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