Hbar (HBAR) Bulls Are Back in Control Following Strong Fundamentals

Hbar has been on the bulls' radar for the past few days following strong fundamentals surrounding the asset over the past week.

hbar has been attracting attention from the bulls over the past few days thanks to strong fundamentals围绕资产上周. It briefly broke out to a new high as the bulls stepped back, but can they stay long?

The past month saw hbar through a little retracement as the price tested a low of $0.23 a month ago. This low level held firmly and the price recovered briefly for days. It lost grip again and fell, but the price quickly bounced back from $0.25 on Monday.

Technically, that bounce brought an end to the correction phase and the price increased significantly the following day. Volatility increased yesterday and the price broke out to a new high of $0.4 today.

The breakout is not clear enough, but looking at the market structure, we can expect a bigger price movement in the coming days. This anticipated movement could see us to the $1 level as the demand level rises.

Looking at the price actions, the bulls are fully back in control. Though the bears are in disbelief as they hope to claim more lows – but currently appear trapped on the daily chart. They will likely suffer more loss when the bulls mount pressure in the market.

HBAR’s Key Level To Watch

Following the price break, the resistance level to consider for a test on the way up is $0.5 along with the $0.6 level. A continuous surge through these levels could bring us to $0.7 in no time.

The support level to watch for a pullback is $0.30. If the price pulls below $0.234, we may see a breakdown to the $0.187 level.

Key Resistance Levels: $0.5, $0.6, $0.7

Key Support Levels: $0.30, $0.234, $0.187

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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