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Category: CRYPTO NEWS
The post bullish reversal could trigger 42% upside move appeared on BitcoinEthereumNews.com. HBAR is trading at a critical support level, with multiple bullish confluences in play. If this zone holds, a 42% rally toward daily resistance appears likely in the coming days. HBAR (HBAR) token has faced pressure recently, with price action trending lower and approaching oversold conditions on lower timeframes. Despite the ongoing correction, the current level is technically significant and may act as the foundation for a reversal. Price is currently sitting on a strong confluence zone, and if bulls step in, a sharp bounce toward the $0.265 resistance level could follow. From a structural standpoint, HBAR remains in a bullish trend. The sequence of higher highs and higher lows remains intact. The current pullback may simply represent another higher low forming within that broader trend. Key technical points Fibonacci & VWAP Confluence: Price is reacting at the 0.618 Fibonacci retracement and VWAP support. Oversold Conditions: Lower timeframes are oversold, suggesting exhaustion of selling pressure. $0.265 Daily Resistance: Target level for the potential bounce, offering a 42% upside from current price. HBARUSDT (1D) Chart, Source: TradingView This support zone is far from arbitrary. The 0.618 Fibonacci retracement, often viewed as a key level in trending markets, aligns precisely with the VWAP (Volume-Weighted Average Price) support, a dynamic indicator closely watched by institutional traders. This overlap creates a compelling technical base for a potential bullish continuation, assuming the zone holds. The setup is forming in textbook fashion: price bleeds slowly into support, momentum wanes, and now the next move depends on volume. An influx of buyers at this level could quickly shift momentum back to the upside and begin a rotation toward the $0.265 resistance. This area marks the next structural level and aligns with previous daily supply zones. So far, nothing about the current retracement invalidates HBAR’s bullish trend. On…
2025-05-29T02:43:16+00:00