HBAR at Key Support, Reversal Possible
The Most Important Points at a Glance
Hedera (HBAR) is at a crucial point: The price is hovering around the $0.18 mark, a key support zone. The question is whether the price can recover or continue to decline. Technical indicators suggest a possible trend reversal, while trading volume and open interest are increasing.
HBAR in a Critical Phase
Since the beginning of the month, HBAR has been in a downtrend. The price is currently fluctuating around $0.18396 and testing a significant support zone between $0.182 and $0.185. The price has rebounded multiple times from this zone, indicating increasing demand.
Technical Analysis: Possible Trend Reversal?
On the 4-hour chart, a descending triangle is forming, a pattern that often signals trend continuation. However, if HBAR breaks out of this pattern, a recovery could take place.
Indicators such as the MACD (Moving Average Convergence Divergence) and short-term moving averages are showing a buy signal. The RSI (Relative Strength Index) is at 40, suggesting there is still room for buying.
Rising Open Interest – A Sign of Optimism?
Open interest (OI) has increased by 4.5% in the last 24 hours. This suggests that more traders are opening positions, often a sign of growing interest. Additionally, the OI funding rate is positive, indicating an optimistic market sentiment.
Another signal of increasing demand is the long/short ratio, which has risen from 1.7 to 1.9. A higher ratio shows that more traders are betting on rising prices.
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What’s Next?
The market is waiting for confirmation of the next move. If HBAR breaks above the descending trendline and surpasses the resistance of the Ichimoku cloud, the trend could reverse. Strong buying momentum could stabilize the price in the medium term.
Our Assessment
HBAR is at a critical point. The support zone at $0.18 has held so far, but a clear direction is not yet visible. Technical indicators suggest a possible recovery, but a breakdown remains possible. Traders should closely monitor the next moves before making any decisions.
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