- HBAR token price has gained more than 90% in the past seven days.
- The HBAR price action indicates a strong bull run after the breakout of the rounding bottom pattern.
- The pair of HBAR/BTC is trading at 0.0000109 BTC, facing an intraday gain of +10.65%.
After finding support at the $0.25 mark close to the 200-days EMA, HBAR token prices are moving higher with the formation of bullish engulfing candlesticks projecting the rise in underlying bullishness.
The bullish outbreak resulted in the breakout of the critical resistance level at the $0.41 mark. In addition, it increased the underlying bullishness multi times that has caused the rise of more than 100%.
The daily EMAs rise higher in a bullish alignment which may provide support in case of a downfall.
The HBAR Token’s current price is $0.5236, increasing +13.24% in market cap in the last 24 hours, suggesting a boom in the bullish sentiments.
The intraday trading volume of the HBAR token has risen 40% in the last 24 hours, projecting a rise in the number of HBAR token buyers as the overall trend gains bullishness.
HBAR Token Price Breaks Another Resistance
After the bullish breakout of $0.41, HBAR Token’s price rises above various horizontal resistance levels in the 4-hour chart. As a result, investors with a bullish outlook for HBAR may find this retest a low-risk entry with an affordable risk to reward ratio.
Price action suggests that the coin could soon face resistance at $0.80 and $1. However, the HBAR Token has the support of $0.40.
RSI indicates a rise in underlying bullishness. The RSI line rises towards the overbought area and then spikes out of neutral.
The ADX is symbolic of a growing trend since the ADX line is moving higher.
Conclusion: After retesting the bullish breakout of the resistance level, HBAR’s price may shortly observe an impressive growth. Investors with a bullish outlook for HBAR may find this retest a low-risk entry with an affordable risk to reward ratio.
Support- $0.41 and $0.30
Resistance- $0.80 and $1