$HBAR pulled back twice this afternoon, but each pullback ended at a higher closing price. I’m cautiously optimistic about this short-term trend.
On the afternoon of October 18 Beijing time, it rose, pulled back, rose again, and then pulled back once more. The hourly closing prices at 16:00 and 18:00 were 0.0869 and 0.08739 USDT, respectively. By 18:54, the price had climbed back to 0.0887.
What matters to me is that, based on the closing prices, each pullback gave back only part of the preceding gain, after which the price recovered. The rise hasn’t been smooth, but the gains made so far haven’t been completely erased. To judge whether it’s weakening, we need to look at the rises and pullbacks together.
These observations don’t guarantee that the next pullback will also be recovered. My conclusion is that this looks more like back-and-forth movement during an uptrend; these two declines alone aren’t enough to say the short-term trend has turned weaker.
On the afternoon of October 18 Beijing time, it rose, pulled back, rose again, and then pulled back once more. The hourly closing prices at 16:00 and 18:00 were 0.0869 and 0.08739 USDT, respectively. By 18:54, the price had climbed back to 0.0887.
What matters to me is that, based on the closing prices, each pullback gave back only part of the preceding gain, after which the price recovered. The rise hasn’t been smooth, but the gains made so far haven’t been completely erased. To judge whether it’s weakening, we need to look at the rises and pullbacks together.
These observations don’t guarantee that the next pullback will also be recovered. My conclusion is that this looks more like back-and-forth movement during an uptrend; these two declines alone aren’t enough to say the short-term trend has turned weaker.