- HBAR Coin is moving Higher at a 45-degree angle after testing the support level of $0.217.
- Relative Strength Index is about approaching the oversold zone in the daily time frame.
- HBAR/BTC price pair is trading in a green zone by 5.29% at 0.3281 BTC.
The price behavior of the HBAR coin indicates a rising triangle chart pattern on the daily time frame; any further move in this triangle chart pattern poses a turning point for further trading sessions. After reaching a new all-time high of $0.5701 on 16 September 2021, sellers participated in profit booking, and then HBAR coin went down almost 61%.
Today, Hedera’s price is trading positive by 5.29% at $0.3281. The past 24-hours trading volume is $160 million, which is positive by 30% at the time of writing. The considerable volume change indicates the strong buying force, that bullish key point ensures the excellent ROI to HBAR investors.
In the 4-hours time frame, HBAR Coin had been obeying in Falling Wedge channel since 12 December. After breaking the channel, Coin took support upon the $0.2200 level; then, the buyers started to purchase the Coin. Nowadays, Coin is moving higher following the rising wedge formation.
The HBAR Coin is due for a retest of its all-time high?
After the dip of HBAR Coin from the $0.477 level, it breached the 200 SMA(Simple Moving Average) and was trading below 200 SMA (red line) then after retesting support level HBAR breached this 200 SMA and 20 SMA with high volume. Recently coin retested both of Moving Averages (20 and 200 SMA) as a support level in a daily time frame.
Relative Strength Index is in the recovery phase after dipping the oversold territory. Not it is trying to reach in an overbought zone that is upon 60 in RSI. This bullish incline trend is behaving like intense buying pressure.
MACD now indicates the solid bullish trend after crossover because it is about to cross this downwards zone.
The $0.477 level will be the crucial resistance level for the uptrend for the further trading sessions because the coin has started to move down from this zone. And near the $0.222 level can react as a support zone for the further short-term trading session.
Conclusion: Everyone can see clearly that HBAR Coin has strong buying potential. Now many indicators are indicating the bullish trend. So we can consider that HBAR Coin is about to retest its all-time high
Support level- $0.1577
Resistance level- $0.5701
Disclaimer – The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.