In recent days, HBAR Token has encountered a noticeable volatility, since its price continues to fight with a descending trend, which remained for several weeks.
Despite sharp losses, traders hope for a positive shift, and HBAR is potentially aimed at $ 0.2 in the near future.
Hedera traders are optimistic
In the coming days, the HBAR bands in the coming days signal the increase in volatility. Currently, stripes are involved, which usually precede compression, followed by a significant movement of prices in any direction, depending on market conditions.
With candlesticks located under the base line, this suggests that compression can lead to an increase in the price of HBAR. If compression leads to bull impulses, HBAR can see significant achievements.
The general market mood for HBAR remains positive, and recent funding indicators indicate bulls. Over the past few days, the financing level has been positive, showing that long contracts dominate the market. This positive level of financing suggests that traders with optimism look at the prospects of HBAR and make bets on the future increase in prices.
This optimism is a strong indicator that traders position for a potential breakthrough. When long contracts exceed shorter positions, this usually signals that investors are confident in Altcoin’s ability to recover.
Hbar Price tends to rally
HBAR is currently trading at 0.164 dollars, faced with a 7-week descending trend. Altcoin should violate the resistance at 0.177 US dollars and turn it over in support in order to free himself from the current bear’s trend. Without this important step, further benefits will remain elusive.
The aforementioned factors suggest that the resistance level of $ 0.177 is the key to HBAR restoration. If the token manages to provide this level of support, an increase in up to $ 0.197 may follow. This will be an important milestone, bringing the price to a target of $ 0.2.
However, if the HBAR cannot violate the resistance in the amount of $ 0.165 and slip through the support of $ 0.154, Altcoin can see a decrease in the US $ 0.143 or even $ 0.133. Such a drop was deprived of Smiren for the prospects of the bull and push the token further from his target in the amount of $ 0.2.
