The latest technical analysis by HBar shows that it can be active in the early stages of a larger bullish movement, although the current pullback needs close monitoring. At the time of writing, HBAR acts at $ 0.19.
The HBar has price chart Possibly a five-wave was an upward pattern from the LOSPENPEPLE of April. In simple terms this means that the price increases five in a series – a pattern that often suggests a strong market trend.
A larger market correction may have ended around 7 April. Since then, the price seems to have gone higher and a new upward trend. This recent increase can be Golf 1 of a larger bullish.
Correction phase probably underway
After this upward movement, it seems that HBBer has entered a correction phase. This is a normal part of price promotion, where markets take a short break or withdraw before they decide their next direction.
This correction could follow a common ABC pattern, which is a typical way that markets adjust after a rally. The support area for this correction is currently between 0.142 and 0.169. Until now, HBAR has succeeded in keeping it above the higher end of this reach, which is a positive sign.
Market front views: what to view afterwards
At the moment there is no clear sign that buyers intervene for a strong bullish reversal. However, the pace of the decline has begun to slow down, which may be an early indication that the market stabilizes.
A more bullish scenario is also considered, where HBBer could try a faster step to the advantage without falling much further. But for now this Outlook needs a confirmation.
Investors and traders must keep a close eye on the support levels. If the price remains above this zone, this can increase the chances of a new upward move in the upcoming sessions.
