- Hedera Hashgraph price is currently down 10% on the day
- HBAR may be headed for a 14% decline targeting $0.066.
- Invalidation of the bearish thesis would arise from a break above $0.092
Hedera Hashgraph price shows short-term bearish technicals that may alter the bullish narrative in the coming days. Traders should remain unbiased during consolidation phases and continue to practice risk management while seeking profitable opportunities.
Hedera Hashgraph price setting up a pullback
Hedera Hashgraph price has taken a tumble near the upper bounds of the recently established uptrend. The downswing is a significant gesture that should be considered while trading the HBAR price, as the digital asset has been trading within a confining range for the last nine days.
Hedera Hashgraph price currently auctions at $0.083. The bears have forged an overthrow of the 8-day exponential moving average, which has provided support throughout the 1.5 x rally that began on January 1st. The breach could be viewed as a confirmation signal for the bears building their positions on smaller time frames.
Classical technical analysis would suggest multiplying the average trading range percentage by the total amount of candlesticks held within the range to extract a possible target. The 3-day chart shows two previous days of range-bound trading with a 10% spread between $0.082 and $0.091. Thus a 20% price decline targeting $0.066 could be the next market move for traders to participate in.
HBAR/USDT 1-Day Chart
Invalidation of the bearish thesis would arise from a breach above the recent 3-day range high at $0.092. A breach of the area could lead to a 20% move to the upside targeting the $0.105 liquidity zone. The bulls would rally by 21% from Hedera's current market value if the retaliation attempt is successful.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin: Holds $105K mark as MicroStrategy adds 11,000 BTC, Trump pardons Silk Road creator Ulbricht
Bitcoin price trades around $105,000 on Wednesday after rebounding from the $100K support level the previous day. Michael Salyor’s MicroStrategy announced on Tuesday that it has acquired 11,000 BTC worth $1.1 billion, and President Donald Trump pardoned Silk Road creator Ross Ulbricht.
World Liberty Financial adds $47 million of ETH and wBTC each to celebrate Trump’s inauguration
Donald Trump-backed DeFi platform World Liberty Financial (WLFI) added $47 million of wrapped Bitcoin (wBTC) and Ethereum (ETH) each to celebrate Trump’s inauguration as the 47th President of the United States on Monday.
Top 5 made in USA altcoins tackle uncertainty on Trump’s return: XRP, Solana, Cardano, Chainlink, Avalanche
Crypto market capitalization of altcoins developed in the U.S. crossed $544.15 billion on Wednesday, January 22. Among cryptocurrencies trending in the U.S., XRP, Solana, Cardano, Chainlink, and Avalanche have gained in the past 24 hours, per CoinGecko data.
President Donald Trump plans $500 billion in AI infrastructure with OpenAI, SoftBank and Oracle
President Donald Trump announced a “Stargate” project for $500 billion in investment to advance the US AI infrastructure. The project will deploy an initial investment of $100 billion, scaling up to $500 billion, to establish advanced data centers and infrastructure in Texas.
Bitcoin: BTC rallies above $102,000 ahead of Trump’s inauguration
BTC's price continues to trade in the green, trading above $102,000 at the time of writing on Friday after rallying more than 7% this week. Recent US macroeconomic data released this week supported the rise of risky assets like BTC.
Trusted Broker Reviews for Smarter Trading
VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.