The overall trend HBAR/USD price is still bullish; however, this time, the coin could deepen its correction as the price dropped below the crucial support trendline that had been carrying the uptrend since long back. The coin still needs to go through a retest phase to validate this breakdown.
- The HBAR coin’s daily RSI chart shows a striking drop in its value
- The intraday trading volume in the HBAR coin is $76.5 Million, indicating an 18% loss
Source- HBAR/USD chart by Tradingview
The HBAR coin travelled in a steady uptrend with clear higher highs and higher lows in its technical chart. This rally made an impressive recovery concerning the sudden fall of September.
Furthermore, the crypto investor can observe an ascending trendline was leading this rally, providing dynamic support to the coin. On November 18th, the HBAR price gave a decisive breakdown from the support trendline, indicating that the price would drop lower.
The Relative Strength Index(47) indicates a bearish sentiment in the coin. However, the significant drop in RSI projects the increasing strength of market sellers.
According to the crucial EMAs(20, 50, 100, and 200), the price still maintains an overall bullish trend, as its price is trading above the trend defining 100 and 200 EMA.
HBAR/USD Chart In The 4-hour Time Frame
Source- HBAR/USD chart by Tradingview
The HBAR coin price has currently retraced back to ascending trendline, with the expectation of a proper resistance from this level. This retest face will validate if the breakdown was genuine or not and confirmation for a price drop.
According to traditional pivot levels, the crypto trader can expect the nearest support level for this coin at $0.336, followed by $0.298. And on the flip side, the resistance levels are $0.388 and $0.43
- Price Analysis
- Trending
- Hedera Price Analysis: HBAR Price Breached The Crucial Support Trendline; Long Traders Guard Up!
- Avalanche Price Analysis: AVAX Coin Shows Steady Growth In The Technical Chart; When Will A Buying Opportunity Occur?
- Ethereum Price Analysis: This Bullish Pattern Hints The ETH/BTC Price Will Grow 65% In The Near Future; Check Out Our Price Analysis
- Enjin Price Analysis: The Technical Chart Indicates More Potential For ENJ Token
- Dogecoin Price Analysis: DOGE May Pride Buying Opportunities At $0.1516
- MBOX Price Analysis: MBOX Token Seems Ready For A Parabolic Rally; Technical Chart Says More 60% Gain Awaits
- XRP Price Analysis: With This New Bullish Pattern, XRP Price Could Grow More Than 30%
- Decentraland Price Analysis: A Bullish Breakout From This Chart Pattern Says MANA Would Retest Or Go Beyond $5
- Bitcoin Price Analysis: $58,941 Level Is Crucial For BTC’s Bullish Breakout
- Floki Inu Price Prediction: FLOKI Eyes 28% Rally To $0.0002613
- El Salvador Announces Bitcoin City, Plans to Issue $1 Billion In Tokenized Bitcoin Bonds
- Here’s Why Zcash (ZEC) Has Surged Over 30% in the Past 24 hours
- This Electronic Retailer May Soon Accept Shiba Inu (SHIB) Payments
- Jack Dorsey’s Bitcoin DEX Project TBD Releases White Paper, Here’s Everything You Should Know
- Here’s Why these Leading Football Clubs Withdrew from their Crypto Partnerships
- Dogecoin Price Analysis: DOGE May Pride Buying Opportunities At $0.1516
- “Bitcoin Cures Cancer” Here’s Why Elon Musk is Mocking BTC Again
- This Platform Raised Over $40 million to Buy the US Constitution and Lost
- Ethereum (ETH) Bounces Back Above $4,300, Here Are the Key On-chain Metrics to Watch
- The First government-hosted Bitcoin ATM at an Airport in the US is here