HBAR's Price Pattern Suggests Potential Bullish Trend

The latest technical analysis of HBAR indicates that the asset may be in the early stages of a larger bullish movement, although the current pullback requires close monitoring. At the time of writing, HBAR is trading at $0.19.

The HBAR price chart has possibly formed a five-wave upward pattern starting from the April low. This means the price made five moves up in a sequence, a pattern that often suggests a strong market trend.

A larger market correction may have ended around April 7. Since then, the price appears to have moved higher, beginning a new uptrend. This recent rise could be wave 1 of a bigger bullish move.

After this upward movement, it seems that HBAR has entered a correction phase. This is a normal part of price action, where markets take a short pause or pull back before deciding their next direction. This correction could follow a common ABC pattern, which is a typical way markets adjust after a rally. The support area for this correction is currently between 0.142 and 0.169. So far, HBAR has managed to hold above the higher end of this range, which is a positive sign.

At the moment, there’s no clear sign that buyers are stepping in for a strong bullish reversal. However, the pace of the decline has started to slow down, which might be an early indication that the market is stabilizing. There’s also a more bullish scenario being considered, where HBAR could attempt a quicker move to the upside without falling much further. But for now, this outlook needs confirmation.

Investors and traders should keep a close eye on the support levels. If the price stays above this zone, it could increase the chances of a new upward move in the coming sessions.