HBAR/USD currently at $0.246 as of March 7, 2025, is forming a descending triangle nearing its apex. This post focuses on the potential upward breakout.
The price is within a descending triangle, with a downward-sloping resistance (yellow line) and support around $0.1750. At $0.246, it’s below the 50-day SMA ($0.26064) and 100-day SMA ($0.27227) but above the 20-day SMA ($0.22169) and 233-day SMA ($0.19104). A bullish MACD crossover (0.00142, -0.00902), neutral RSI (51.37), and declining volume (-13.71%) suggest a breakout could be imminent with the right catalyst.
Upward Breakout Scenario:
Breakout Trigger: A strong candle close above the descending resistance line with a significant volume increase.
Target: $0.3500 (previous high), based on the triangle’s height projected upward from the breakout point.
Speed of Breakout:
The speed of the move to $0.3500 depends on market dynamics:
Fast Scenario (1-3 Days): If the breakout is accompanied by a strong volume spike (e.g., 2-3x the current 106.67M) and positive news (e.g., partnerships or adoption), HBAR could reach $0.3500 rapidly. Historical momentum in similar setups suggests a 40-50% gain in 1-3 days, driven by FOMO and short covering.
Moderate Scenario (5-10 Days): With moderate volume and gradual buying interest, the price might climb steadily, taking 5-10 days to hit $0.3500 as it tests resistance levels like $0.26064 (50-day SMA) and $0.27227 (100-day SMA).
Key Factor: The current low volume and neutral RSI indicate the breakout’s speed will hinge on a catalyst. A sudden surge could accelerate the move, while a lack of momentum might prolong it.
Entry: Above the resistance line with volume confirmation.
Stop-Loss: Below $0.1750 or the recent swing low.
Target: $0.3500, achievable in 1-10 days depending on volume and news.
Support to Watch: The HVN at $0.24351 is a current key support; a drop below it before breakout could signal weakness. Post-breakout, monitor the broken resistance line as new support.
Disclaimer: For educational purposes only, not financial advice. Trade responsibly.
The price is within a descending triangle, with a downward-sloping resistance (yellow line) and support around $0.1750. At $0.246, it’s below the 50-day SMA ($0.26064) and 100-day SMA ($0.27227) but above the 20-day SMA ($0.22169) and 233-day SMA ($0.19104). A bullish MACD crossover (0.00142, -0.00902), neutral RSI (51.37), and declining volume (-13.71%) suggest a breakout could be imminent with the right catalyst.
Upward Breakout Scenario:
Breakout Trigger: A strong candle close above the descending resistance line with a significant volume increase.
Target: $0.3500 (previous high), based on the triangle’s height projected upward from the breakout point.
Speed of Breakout:
The speed of the move to $0.3500 depends on market dynamics:
Fast Scenario (1-3 Days): If the breakout is accompanied by a strong volume spike (e.g., 2-3x the current 106.67M) and positive news (e.g., partnerships or adoption), HBAR could reach $0.3500 rapidly. Historical momentum in similar setups suggests a 40-50% gain in 1-3 days, driven by FOMO and short covering.
Moderate Scenario (5-10 Days): With moderate volume and gradual buying interest, the price might climb steadily, taking 5-10 days to hit $0.3500 as it tests resistance levels like $0.26064 (50-day SMA) and $0.27227 (100-day SMA).
Key Factor: The current low volume and neutral RSI indicate the breakout’s speed will hinge on a catalyst. A sudden surge could accelerate the move, while a lack of momentum might prolong it.
Entry: Above the resistance line with volume confirmation.
Stop-Loss: Below $0.1750 or the recent swing low.
Target: $0.3500, achievable in 1-10 days depending on volume and news.
Support to Watch: The HVN at $0.24351 is a current key support; a drop below it before breakout could signal weakness. Post-breakout, monitor the broken resistance line as new support.
Disclaimer: For educational purposes only, not financial advice. Trade responsibly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.