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01/03 10:15

Hedera (HBAR) Price Analysis

Hedera (HBAR) Price Analysis

The latest breakout seems to have induced significant momentum within the HBAR price rally as the price remains consolidated within a decisive phase. Moreover, the consolidation seems to have reached a peak that may result in a bullish breakout but only after another small outback to $0.28. 

As mentioned, the price is trading within the decisive symmetrical triangle, and as it is facing significant upward pressure, the possibility of testing the support. Meanwhile, the volume has dropped heavily, which appears to have been dominated by the sellers. However, a bullish reversal is expected to revamp as the RSI has bounced off from the average levels, which may head towards the upper threshold. Besides, the MACD could undergo a bullish crossover, which may help the token break the pattern and enter the resistance zone between $0.32 and $0.33.

Both the tokens are stuck within a decisive phase and hence the upcoming weekly close may have a huge positive impact over the Algorand (ALGO) & Hedera (HBAR) prices. 

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