HBAR Rose by 12%: Has the Downtrend Started to Exit?
HBAR, which has been in a downtrend for a long time, attracted investors' attention again by recording a 12% increase in the last 24 hours. This movement is interpreted as a possible recovery signal after two months of negative movement.
Technical Indicators Promise Hope
In addition to the price increase, technical data also gives positive signals. The Relative Strength Index (RSI) recently fell into the oversold zone, dropping below the level of 30 — this was one of the lowest levels the RSI has seen in the last 10 months. However, the RSI is currently on a recovery trend, which may indicate a turnaround in market sentiment.
The upward movement of the RSI indicates that buying pressure is gaining momentum again, and a more positive outlook may emerge for HBAR in the short term.
High Correlation with Bitcoin: Opportunity or Risk?
The price movement of HBAR has a strong correlation with Bitcoin (BTC), which determines the general direction of the crypto market. A correlation coefficient around 0.80 indicates a high likelihood that HBAR will move in parallel with BTC. In other words, if Bitcoin rises, HBAR may also be positively affected by this trend.
However, this situation also represents a risk factor. Sharp declines that may occur in Bitcoin could pull HBAR's price down as well. Therefore, it is critical for investors to evaluate both the HBAR and BTC markets together.
Critical Resistance Levels: $0.154 and $0.163
HBAR is currently trading at the $0.150 level and has two significant resistances in the short term: $0.154 and $0.163. Breaking these levels could end HBAR's downtrend and pave the way for a stronger upward movement.
If these resistances are broken, a price movement towards higher levels is expected. This situation may also give hope to investors who have been in a downtrend for a long time.
Possible Pullbacks: Support Levels Under Observation
If the rise does not continue, it is likely that HBAR will pull back to the support levels of $0.139 and $0.133. In this scenario, the current recovery may remain a temporary reaction, and the downtrend may re-enter.
Conclusion: Although Uncertainty Has Decreased, a Clear Turnaround is Not Yet Certain
Although the technical outlook for HBAR indicates recovery, breaking the critical resistances will determine whether this trend is permanent. Given Bitcoin's impact on the overall market direction, it would be beneficial for investors to adopt a cautious approach.
PLEASE READ CAREFULLY FOR A $10 GIFT TO 170 PEOPLE.
Friends who have not yet activated the futures trading section will earn $10 when they activate the futures section by entering my referral code 88623008. The first 170 people will benefit from this reward.
I AM EXPLAINING IN DETAIL.
My brothers who registered on Binance without a referral, please listen carefully;
You will earn 10 USDT when you follow my instructions in order.
Enter the Futures section from your application,
On the next screen, enter the REFERRAL CODE section and enter the code 88623008 to open your account,
Brothers who want to complete this transaction by April 10 to receive a reward of 10 USDT can do so. After that, it will be sufficient to have a trading volume of $30 after activating your account. However, even if you do this transaction after April 10, your reward will not come. Therefore, I suggest you handle it within 5 seconds.
THE SYSTEM WORKS ON A FIRST-COME, FIRST-SERVED BASIS. THEREFORE, DO NOT BE LATE TO CLAIM YOUR GIFT. IT IS LIMITED TO 170 PEOPLE.
PLEASE READ CAREFULLY FOR A $3,300 GIFT.
Friends, you know that we are doing our best for you as publishers. We are communicating the services and opportunities provided by our authorities. I have never withheld my support for both the cryptocurrency market and you; on the contrary, I strive to provide more support.
Now I will explain how to claim your gift. First of all, those of you who have not opened a futures trading account need to activate this account with a short transaction. I will explain in detail and simply how to activate it.
So who can benefit?
Friends who have not yet activated the Futures section can activate it by entering my referral code 88623008 when opening the FUTURES section. It is an easy process. I have shown where it is below.