#HBAR
HBAR/USDT trade setup
1. Current Price: HBAR is trading at $0.29147, up by 5.89% for the day.
2. EMA Analysis:
• EMA(7) and EMA(25): The price is currently above both short-term and medium-term EMAs, indicating bullish momentum.
• The slope of EMA(7) is upward, suggesting recent buying pressure.
3. RSI Levels:
• RSI(6): 62.05: Close to the overbought region, signaling strong bullish momentum in the short term.
• RSI(12) and RSI(24) are neutral, indicating the move is not yet overextended.
4. Volume:
• Recent green volume bars are higher than previous red bars, confirming that the upward move has volume support.
5. Resistance and Support:
• Resistance: Around $0.30561, as seen from a recent price rejection.
• Support: $0.26703, marked by the last major dip.
6. Trend Direction:
• The chart shows a potential reversal after touching the $0.26703 support, with higher lows forming.
Strategy Suggestions:
• For Long Positions: A confirmed breakout above $0.30561 with strong volume could indicate a continuation of the upward trend.
• For Short Positions: If the price fails to break $0.30561 and RSI(6) shows bearish divergence, a pullback to $0.26703 could be expected.
• Stop-Loss: For bullish trades, place stops below the $0.26703 support.