HBAR’s Next Support and Resistance Targets

6 days ago

HBAR hit a key high at $0.3922 but faced rejection, suggesting the formation of a trading range or a potential ABC corrective structure. A developing head and shoulders pattern further signals possible bearish momentum in the short term.

Key levels and trade setups:

Short Setup:

• Entry: Around the 0.618 Fibonacci retracement of the current wave
  

• Stop Loss: Above the $0.3922 key high
  

• Take Profit: Targeting the Fib Retracement 0.382 at $0.34356
  

• R:R: A favorable 5:1 if taken from the 0.618 retracement or 2:1 when entering after losing the dOpen
  

Support Zone:
Anchored VWAP, weekly level and Fibonacci speed fan 0.618, depending on timing, align near $0.34356–$0.33284. This confluence provides a robust area for potential price bounces.

Long Setup:

• Entry: Within the support zone, contingent on bullish confirmation
  

• Stop Loss: Below the support zone
  

6 days ago

Trade closed: target reached

Played out beautifully. Short Trade closed.