HBAR Bullish

5 Jan 2021

HBAR's 50% late November run has fully retraced. Near the end of December, the price took out a series of swing lows, potentially paving the way for upside expansion.

Support near $0.02995 provides the safest buy. Still, most entries below the monthly open at $0.03183 are likely to be favorable if Q1 brings an HBAR bullrun. Traders can also look for entries in support between $0.03372 and $0.03183 since the price often retraces below the monthly open before a bullrun.

The cluster of relatively equal highs at $0.03834 provides a reasonable first target, with resistance around $0.03834 potentially providing a barrier to the second target at the $0.04150 high. The highs at $0.04747, $0.05041, and $0.06176 provide the next targets if the price breaks the resistance just below each high.