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HEDERA – ALTCOIN CHART ANALYSIS

 


Hedera (HBAR) has broken the short-term downtrend to the upside after previously seeing an upside fakeout.


We are currently trading at around $0.064. However, we have to say that the trading volume is decreasing significantly and the RSI is slowly coming into the overbought area.


So there is much to be said for a short-term setback. First support is around $0.062. There are the 4H-EMA Ribbons. The area around $0.06 is more interesting.


There lies the golden pocket (0.618 – 0.65 Fib. level) of the current upward movement. A retest followed by a pump could take us to the $0.068 area


On the daily chart we are now directly at the Daily EMA ribbons. These represent a strong resistance and so far it has not been possible to sustainably break through.


The daily volume is already decreasing again, which does not speak for sustainability. Thus, a possible peak at around USD 0.068 could be the end for the time being.


A retest of the region around $0.056 is still very likely as we have built a lot of volume here and the S1 monthly support is there.

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