- Concerning the HBAR coin prices, the RSI line has been steadily declining in value.
- The HBAR/BTC pair was trading at 0.000007827 BTC with a loss of 0.3%
- the 24hr trading volume in HBAR coin is $571.1 Million
The incredible rally for the HBAR coin entered a minor retracement phase after the coin reached a new ATH of $0.57. These short pullbacks can be beneficial for trending coins to continue a strong bull run. However, the coin price has fallen more than was expected, as it’s down by 50% in just one week. The chart currently shows an inside candle at crucial support of $0.3, coinciding with the 0.618 FIB, offering good support to the HBAR coin.
The EMA’s indicate that the HBAR coin shows a bullish trend because the price trades above the trend defining EMA 100 and 200. Moreover, The coin price is getting strong support from the 50 EMA line.
The RSI value is at 47, indicating a bearish emotion in the coin. Moreover, the RSI line has shown a significant drop concerning the coin’s price action, suggesting the bears are trying to take control of the coin.
The HBAR coin shows a V-top chart pattern.
The HBAR coin shows a V-top pattern in the 4hr time frame chart. This pattern indicates intense selling pressure in a coin, providing its traders excellent short opportunities for market traders. The nearest support for the coin is $0.3, and if the price gives a proper breakdown, the HBAR can consider a short entry.
The moving average convergence/divergence indicator (BEARISH) shows the signal and MACD lines are moving below the neutral area (0.00), indicating bullish sentiment. The indicator also displays a bullish crossover between its two lines, respecting the current price action of the coin.
Conclusion: From the technical perspective, the HBAR coin shows a strong bearish outlook in its price action and indicators, providing a great place to seek out short entries. Thus, as mentioned above, the HBAR traders can expect a quick target of $0.26 once the price gives a breakdown from $0.3 support.