The post HBAR Price Analysis: Will HBAR Bounce Within This Triangle? appeared first on Coinpedia Fintech News
While making a triangle pattern in the daily chart, the HBAR price remains indecisive below the 50-day EMA. Moreover, the constant support from the $0.045 zone proves crucial to sustaining the triangle pattern.
With the altcoins finding strong footing, the chances of a bullish comeback for HBAR are stronger this Uptober. Meanwhile, the improving sentiments align with the positive HBAR price predictions.
Keeping the trend of lower high formations intact, the HBAR price remains under a downtrend motion. Moreover, the ever-moving 50-day EMA provides resistance to the bullish comebacks, limiting the breakout chances.
The HBAR coin price currently struggles to find a bullish reversal from $0.045 due to the overhead supply. Currently, the HBAR coin price currently trades at $0.04787 with an intraday growth of 2.12%, increasing the reversal likelihood.
Technical indicator:
MACD indicator: The MACD and signal prepare for a bullish crossover as the declining negative histograms reach the zero line. Moreover, the lines display a bullish divergence present with the last crossover. With such indications, the MACD and signal lines project a potential bounce back in HBAR prices within the triangle.
EMAs: The declining 50-day and 200-day EMA maintains a bearish outlook from the long-term trend perspective. However, the positive cycle will drastically improve the chances of a golden crossover.
Will HBAR Price Rise Above $0.050?
With the market sentiments improving, the increased trend momentum brings a higher possibility of an upside breakout in HBAR price. In case the uptrend manages to sneak past the 50-day EMA, the breakout rally will touch the $0.065 mark.
However, if the prices fail to exceed the EMA, the downtrend will continue close to the bottom trendline, teasing a drop to $0.040.
