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HEDERA HASHGRAPH PRICE ANALYSIS:- Bulls pushing the price up but will it sustain?

  • The trading volume of HBAR in the last 24hr at the time of writing this article is +24.18%
  • The price of HBAR/BTC and HBAR/ETH at the time of writing this article is 0.000007829BTC and 0.0001141ETH respectively 
  • The price is taking support on the 50MA in the daily chart

LONG TERM VIEW:- 

In the daily time interval we can see that the price is taking support on the 50MA and is currently above the 20MA and is coming down again. It might be a false breakout as we can see the price is able to not break the resistance of 20MA before that. Let’s have a look at the technical indicator if the price will sustain the 20MA support or it will make it a resistance. We can have a look at the MACD which is showing a green histogram as the MACD line is above the Signal line which is very close to each other so the direction can be changed with the price. Lastly we can see that the RSI is in the neutral zone near 56 as the RSI line is pointing towards the oversold zone (30) and RSI line can be influenced by volume of the Bulls or bears. 

Tradingview

SHORT TERM VIEW:-   

In the 4hr time interval we can see the price is above the 20MA and we can see that the price is near the support of the $0.38423819 and we can see there is a double bottom and double top pattern which is a very bearish pattern. Having said that, we can see that MACD is showing a red histogram as the MACD line is below the Signal line but the MCAD line is very close to the Signal line as the which can be changed but the trend is bearish. In addition to that we can see RSI is in the neutral zone near the 50 and RSI is pointing towards the Oversold Zone (30). 

Tradingview

CONCLUSION:-  

Looking at the both daily and 4hr time chart we can see that the price is falling to the 20MA as the price is back at the resistance level because in the 4hr time interval we can see that the double top and double bottom pattern which is very bearish and as we can see the bears winning the fight so the overall trend is bearish in the time being. 

RESISTANCE:-$0.43,$0.47

SUPPORT:- $0.36,$0.32

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