It was valued at almost $2.86 billion and had a circulating supply level of 43.83 billion HBAR. The share price, too, was 88.55% lower than the record high of $0.57.
The charts show HBAR at an immediate support level and a dense resistance area. Buyers have rallied back to $0.065, but the trading volume has not been strong. The broader time frame suggests a major support test at $0.06166. In the short term, price needs to retest $0.068 and $0.070 to improve the short-term picture.
HBAR Price Struggles Below Short-Term Resistance
On the intraday level, HBAR trades towards $0.0650 while it drops from around $0.0657. The buyers subsequently generated a small recovery, but the price remained below the session peak. The sequence shows limited demand near $0.0658. The daily range is also tight, which shows consolidation following the earlier decline.
The lower time frame chart retains a string of lower highs and lower lows. Additionally, HBAR is trading below the Ichimoku cloud, creating overhead resistance. The trading volume is focused in the range of $0.067 to $0.070 on the volume profile. Thus, buyers will have to muster more strength to move through that volume.
RSI is around the bottom of its range and is indicating a lack of momentum. If the indicator keeps going lower, it can reach oversold levels. However, an oversold read would not establish a reversal. Price needs to break above $0.0658 and then hold above $0.0668 before it can have a strong chance of extending its move higher.
The $0.06166 Level Defines the Main Support Test
The higher-time-frame chart shows that $0.06166 is the price-action control point for the all-time frame. This area is an area of significant historical trading activity. The price of HBAR is approximately 5.4% higher than that level. Buyer demand could then be gauged within the context of the wider value zone in a retest.
Sticking with $0.06166 would keep the developing base intact and give another shot at $0.070. A breakdown will create more trouble for the current range and expose lower supports. The chart then focuses on the long-term macro trendline that is rising around the $0.047 price point. That level sits about 28% below $0.06519.
The point of control can also be a driving price during slow market days. Thus, HBAR might be looking at moving back to $0.06166 prior to setting an obvious trend. If they buy it, they’ll want a strong response and increased volume at that point. If not, sellers might be able to maintain control within the current range.
HBAR Price Needs $0.070 to Confirm Recovery
For HBAR to shift momentum, it needs to get back into the $0.068-$0.070 range. A breakout from the lowest highs close to the area would signal a breakdown of the lowest high. This also may push the price up into a portion of the visible cloud resistance. Then the next units of recovery would be around $0.075 and $0.080.
The targets are around 15% and 23% higher than the market price. However, the plotted course shown on the chart is a forecast and not actual movement. HBAR needs to see higher highs, greater volume, and close above resistance. Those signals will leave the overall downtrend in place.
The macro chart maps larger barriers near $0.10, $0.15, $0.20, $0.29, and $0.35. Historical supply or historical turning areas are indicated at each level. It would take a few solid breakouts for price to make it to those zones. For the time being, the nearest directional boundaries are $0.06166 and $0.070.
A drop to $0.06166 would move the situation towards the downside and increase the chances of touching $0.047. Sustaining this level may maintain consolidation and provide for an additional recovery effort. Should the price exceed $0.070, it will begin to offer a clearer indication that the structure is changing hands.
Be the first to comment