Hedera Coin Fast-Recovering; Buy Now!
Published 31 minutes ago by
Brian Bollinger The Hedera coin price broke out of a three-week-long consolidation phase on February 11th with a breakout at $0.077 horizontal resistance and $0.083 horizontal support. This breakout provides coin buyers with new support levels to help boost further growth. The altcoin is currently in a retest phase, where it will be gauging price sustainability above the breached resistances. Is this an entry signal?advertisementKey Points:A bullish breakout from $0.083 resistance sets Hedera coin in a 10% rally
A lower rejection candle at $0.083 indicates that buyers are protecting the new level.
The intraday trading volume for the HBAR coin was $80 Million. This indicates a 30% loss.
Source-TradingviewThe Hedera coin price has shown near perpendicular growth in the last one and a half months. The coin price has experienced 137% growth in the last one and a half months and is currently at $0.087. The huge breakout and high volume surge indicate that buyers are looking to chase higher levels. Trending StoriesThe coin price has shown several short-body candles over the past four days with long rejections attached at both ends. This candle structure is indicative of uncertainty among market participants. This candle structure indicates uncertainty among market participants. Also read: Top 10 DeFi Lending platforms in 2023 Thus, the interested trades can look for entry opportunities at $0.0836 or $0.077 flipped support.If the buying pressure persists, the Hedera coin may drive a recovery rally to $0.0992, followed by the $0.11 mark.On a contrary note, a bearish rejection from $0.0992 could encourage a minor consolidation phaseTechnical IndicatorRSI: The daily RSI slope rising high into the bullish territory indicates the underlying bullish momentum is strong.advertisementEMAs: THe 20-day EMA support continues to act as dynamic support to rising Hedera coin prices. The buyers can maintain a bullish scenario until the EMA is intact.
Resistance levels: $0.084 and $0.1
Support levels: $0.074 and 0.063
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