TradeCityPro | HBAR Rebounds Sharply After Trendline Breakout

👋 Welcome to TradeCity Pro!
In this analysis, I’m going to review the HBAR coin for you—one of the RWA and Layer1 crypto projects, currently ranked 16 on CoinMarketCap with a market cap of 9.95 billion dollars.

📅 Daily Timeframe
On the daily chart, as you can see, after a bullish rally toward the end of 2024, HBAR entered a corrective phase and is currently still in this correction.

✨ A major support zone (highlighted on the chart) was established, and a range box was formed between this zone and 0.21765 where price had been consolidating.

💥 There was also a descending trendline within this box that the price recently broke through, triggering strong bullish momentum. The price has now even broken above the 0.21765 level.

✔️ A significant increase in buying volume has entered the market, and with RSI entering the Overbuy zone, this move looks poised to continue even more sharply.

🔔 If this bullish momentum persists, the next targets are 0.26221 and 0.38402. If you already have an open position, these levels could be suitable for partial profit-taking.

🛒 If you're looking to buy this coin in spot, the breakout and confirmation above 0.21765 is a decent entry. However, the current stop-loss range is quite wide, so reaching a good risk-to-reward ratio might take longer with this trigger.

📈 The next potential spot triggers are 0.26221 and 0.38402. A breakout above 0.38402 would likely signal the start of a new major bullish leg.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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