- At the current level, Hedera’s price is trying to hold on and confirm its breakout from the descending triangle pattern.
- There has been a recovery of HBAR crypto until the 20 EMA, but it remains below the 50, 100, and 200-day daily moving averages.
- The pair of HBAR/BTC is at 0.000003028 BTC with an intraday drop of 3.77%.
A breakout of the collapsing wedge formation on the daily price chart is necessary for the Hedera price to move higher. In order to break out of the Descending triangle pattern, the coin must attract additional buyers. A descending triangle formation is set to emerge on HBAR Coin, which aims to build up bulls in order to signal its breakout.
As a result, the accumulation isn’t progressing as expected, since the token is unable to gather enough positive forces to complete its breakout. HBAR investors should wait until the token is ready to end its downward trend before making any purchases. Tokens, however, are currently being controlled by bears and are expected to melt down soon.
As of today, Hedera is estimated to be worth $0.0635, up 4.86 percent from the previous day. Trade volume increased by 30.16% during the intraday trading session. This is an example of how buyers are trying to push HBAR Crypto. 0.02439 is the volume to market cap ratio.
To exit the descending triangle pattern over the daily price chart, the HBAR coin price must attract a significant number of buyers. The token is now experiencing problems as it approaches the descending triangle pattern. According to the decreasing volume change trend, the token is decreasing within the descending triangle pattern. In order to maintain the top trendline, HBAR coins must be accumulated.
What are the Technical Indicators showing about HBAR?
HBAR cryptocurrency is being supported by bulls. It is essential that the digital object escapes the descending triangular pattern. A descending triangle formation is indicated by technical indicators for HBAR which indicate it is on the upswing.
Within the descending triangle, the relative Strength Index shows HBAR’s uptrend momentum. There is a neutral trend in the RSI at 46. Inside the descending triangle pattern, MACD shows the uptrend momentum of the HBAR coin. There is about to be a negative crossover as the MACD line crosses below the signal line.
Conclusion
A breakout of the collapsing wedge formation on the daily price chart is necessary for the Hedera price to move higher. In order to break out of the Descending triangle pattern, the coin must attract additional buyers. A descending triangle formation is expected to appear on HBAR Coin, which is aiming to build up bulls to signal its breakout.
Tokens are still unable to gather enough positive forces to complete their breakout, so accumulation is not proceeding as planned. Before investing in HBAR, investors should wait until the token’s downward trend is over. A declining volume change pattern indicates the token’s decline within the descending triangle pattern.
To maintain the top trendline, HBAR coins must be accumulated. HBAR’s momentum is on the rise while forming a descending triangle formation, according to technical indicators. A negative crossover is about to occur when the MACD line crosses the signal line downwards.
Technical Levels
Support Level: $0.055
Resistance Level: $0.068
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