HBAR, the native token of the Hedera Hashgraph network, is one of the most prominent projects in the cryptocurrency world thanks to its infrastructure that relies on Hashgraph technology instead of traditional blockchain technology. This technology offers high transaction speeds and efficiency, making HBAR attractive for investment especially in the context of decentralized applications (DApps) and enterprise services.

HBAR Technical Analysis

Daily Chart:

  1. General trend:

    • HBAR is showing a relatively bearish trend in the medium term as it trades below the 50-day moving average (MA 50).

    • However, the coin is trading near strong support levels around $0.045 – $0.048, which have proven to be potential bounce areas in the past.

  2. Support & Resistance:

    • Key Support Level: $0.045

    • First resistance level: $0.056

    • Second resistance level: $0.065

  3. Technical Indicators:

    • Relative Strength Index (RSI): It is at 42, indicating that the currency is close to the oversold zone.

    • MACD Indicator: Shows a negative signal with the signal line below the zero line, confirming the current downtrend.

    • Volume: There has been a decrease in trading volume recently, indicating that investors are hesitant or waiting for better entry levels.

4H Chart:

  • Price pattern:

    • HBAR is trading within a descending price channel, with short moves towards a retest of the upper resistance of the channel.

    • Breaking this channel may indicate the beginning of an upward movement.

Future expectations:

  1. Ascent scenario:
    If the price manages to hold above the $0.045 support level and breaks the $0.056 resistance, we may see an uptrend towards $0.065 or higher, supported by positive momentum and increasing trading volumes.

  2. Landing scenario:
    If the $0.045 support level is broken, HBAR may drop to the $0.035 - $0.038 levels before finding support again.

Conclusion and Trading Strategy:

  • Medium-term investors: They can wait for the resistance at $0.056 to be broken and enter long positions with targets at $0.065 and $0.072.

  • Day traders: They should watch the price channel on the 4-hour time frame and enter when the price bounces off the support or breaks the ascending channel.

  • Risk Management: Use a stop loss at $0.042 to avoid any sharp reversals.

  • $HBAR


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