HBAR Technical Analysis – Potential Pullback Zone Identified
HBAR has been showing strong momentum recently, completing a 5-wave advance on the larger timeframe. However, current price action suggests the start of a wave 2 correction, offering a possible buy-the-dip opportunity if support holds.
Key Market Insights:
The recent top near $0.225 has resulted in a rejection, confirming a possible correction phase.
The primary support zone lies between $0.142 and $0.181, defined by Fibonacci levels (38.2% to 78.6% retracement).
There’s also a shorter-term support zone between $0.180 and $0.197, where a B wave bounce could initiate.
A new resistance zone is defined between $0.210 and $0.224 – this will act as a crucial decision area in the next wave up.
Trade Setup (Swing Trade):
Entry Zone:
Aggressive entry: $0.180–$0.197 (anticipating short-term bounce)
Safer entry: $0.142–$0.181 (major support zone)
Targets:
Target 1: $0.210
Target 2: $0.224
Target 3 (extension if structure confirms): $0.250+
Stop-Loss:
Below $0.142 (breakdown invalidates bullish count – risk of deeper correction)
Bias:
Bullish while above $0.142
A wave B bounce is anticipated, possibly part of a larger ABC corrective structure
If momentum builds and $0.224 is broken, a more direct rally (wave 3) becomes likely
Conclusion:
HBAR is in a critical phase where a healthy correction may lead to the next leg higher. Watch for reaction near key Fib support levels. This zone may offer high R:R entries for mid- to long-term bulls.
