HBAR crypto is trying to escape a downward pattern that has two barriers: a trendline and the 200-day EMA. The crypto’s direction in the future will depend on whether it can break through or rebound from the pattern.
The outlook is uncertain at the moment. Furthermore, the price dropped by 0.06% last week, indicating that Hedera Hashgraph performed poorly recently. Hedera Hashgraph lost 90.66% of its value in 2 years after hitting its all-time high of $0.569229.
The current market mood is positive. There is room for more volume in crypto right now. The price has been challenging the resistance line and is approaching the decisive 200-moving average.
Hedera Hashgraph (HBAR) Price Technical Analysis
Hedera Hashgraph’s price has been facing rejection from the 200 SMA, which demonstrates the dominance of sellers in the market. If buyers maintain the momentum, HBAR could initiate an uptrend.
HBAR crypto displays bearish signals according to the MACD, RSI, and super trend indicators. The MACD line has crossed above the signal line, indicating bullish force. The RSI is above 50, showing a positive direction. The super trend line is below the price, confirming the trend. These indicators suggest that HBAR crypto is in a moderate bullish trend and may continue to rise if buyers sustain the price.
Conclusion
Based on the latest data and analysis, the bears and bulls are in a tight battle. Hedera Hashgraph is attempting to break out of a downward pattern that has two obstacles: a trendline and the 200-day EMA. The price action suggests that the investors need to wait for a better chance for the next move. HBAR’s price is currently in a neutral zone. Moreover, indicators such as the EMA, RSI, and MACD are showing positive signals for the crypto. The current situation demands traders and investors to be cautious and look for a clear breakout or breakdown of the range before making any moves in the future.
Technical Levels:
- Support Level – The current support level is $0.825.
- Resistance Level –The current resistance level is $0.933.
