The latest technical analysis of Hbar shows that the asset can be in the first stages of a larger bullish movement, although the current withdrawal requires close surveillance. At the time of writing the editorial staff, Hbar is negotiated at $ 0.19.
The Hbar Prix Table may have formed a five wave ascending model from the April hollow. In simple terms, this means that the price has made five movements in a sequence – a model that often suggests a strong market trend.
A greater market correction may have ended around April 7. Since then, the price seems to have increased, starting a new upward trend. This recent climb could be wave 1 of a greater bullish movement.
Probably in progress phase
After this movement up, it seems that Hbar has entered a correction phase. This is a normal part of the price action, where the markets take a short break or withdraw before deciding on their next direction.
This correction could follow a common ABC scheme, which is a typical means of market markets after a rally. The support area of this correction is currently between 0.142 and 0.169. Until now, Hbar has managed to hold above the upper end of this range, which is a positive sign.
Market prospects: what then to look at
For the moment, there is no clear sign that buyers intervene for a strong bullish reversal. However, the pace of the drop began to slow down, which could be an early indication that the market stabilizes.
There is also a more optimistic scenario considered, where Hbar could try a faster movement upwards without falling much further. But for the moment, this perspective requires confirmation.
Investors and merchants should keep an attentive eye on support levels. If the price remains above this area, it could increase the chances of a new upward movement in future sessions.
