Summary
• Price surged from $0.11574 to $0.12009 amid strong volume and momentum.
• RSI suggests overbought conditions, suggesting a possible near-term pullback.
• Volatility widened during the 24-hour period, with Bollinger Band expansion observed.
• A bearish engulfing pattern formed late in the session at $0.12003, signaling caution.
Hedera/Tether (HBARUSDT) opened at $0.11574 and reached a high of $0.12009 before closing at $0.11894. Total volume for the 24-hour period was 54,775,538.0 and turnover was approximately $6,347,855.34.
Structure & Formations
The pair broke key resistance at $0.1190 and extended higher to $0.12009, forming a bullish continuation pattern. A bearish engulfing candle emerged at $0.12003 as the session neared close, suggesting a potential short-term reversal. Key support levels to watch include $0.1180 and $0.1160, with $0.11574 as the initial floor.
Moving Averages
On the 5-minute chart, price closed above the 20- and 50-period moving averages, indicating short-term bullish bias. The daily chart remains above all major moving averages, supporting an overall uptrend.
MACD & RSI
RSI reached overbought territory (70+), suggesting a possible near-term correction. The MACD histogram remained positive, but the line flattened toward the end of the session, indicating waning bullish momentum.
Bollinger Bands
Volatility expanded as price moved from the lower band to the upper band, with the recent high at $0.12009 touching the upper boundary. A retest of the lower band near $0.1180 could confirm near-term volatility.
Volume & Turnover
Volume surged during the price’s rally, particularly between 14:45 and 16:00 ET. Notional turnover aligned with price action, confirming the strength of the move. However, a divergence between rising price and declining volume in the last hour may hint at distribution.
Fibonacci Retracements
The recent swing from $0.11574 to $0.12009 aligns with the 38.2% and 61.8% retracement levels at $0.1181 and $0.1174, respectively. A breakdown below the 61.8% level could trigger a deeper correction.
Over the next 24 hours, a test of $0.12009 may occur, but a failure to hold above $0.1190 could lead to a retest of lower support. Investors should remain cautious as overbought conditions persist and volatility remains elevated.
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