November, which experienced a decrease of approximately 55% in value. Hedera (HBAR) It was largely a correction phase for the coin. HBAR price declined to the $0.218 support level where it gained enough demand pressure for a bullish reversal. This V-shaped price rebound was up 40% relative to the lower support, which is aiming to break beyond the $0.5 mark.
Important technical points
- HBAR coin The price retraces the 200-day EMA.
- The daily RSI line is rising above the neutral line (50).
- The intraday trading volume on HBAR coin is around $302.4 million, which is an increase of 234.5%.
The recent correction period in HBAR coin price was led by a descending trendline. This pullback cost almost 55% for long-term traders, pushing the price down to the $0.219 support.
However, on December 15, HBAR coin price bounced off this support level with a morning star formation and started the bullish direction. The price offered strong trailing candles that broke several key resistance levels. Namely, it showed a resistance trend line, the 200-day EMA line, and a horizontal resistance zone around $0.3.
HBAR price recently broke above the 200 daily EMA, giving it an excellent advantage for long-term traders. The daily Relative Strength Index (52) also enters the bullish zone, supporting the ongoing rally.
HBAR/USD 4-hour Timeframe Chart
HBAR coin broke out of the $0.3 resistance with a significant increase in trading volume. The HBAR/USD pair is currently trying to stay above this level, which could provide a great entry opportunity. The current price of the coin is $0.309, with an intraday gain of 0.35%.
technical table, HBAR It shows the nearest resistance level for $0.32 followed by $0.36. On the other hand, support levels are at $0.3 and $0.265.
The moving average convergence divergence points to a positive outlook with the MACD and the signal line is consistently charging higher in the bullish zone.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.