Hedera: Genius Market Analyst Reveals True State Of The Market

Hedera just tested its long-term baseline support. Guess what level this support matches perfectly? You guessed right my dear friend, it is the 0.618 Fib. retracement level for the last bullish wave; Boom!

What does this means?
Well, if you don't know please allow me to be the one to tell you that you are a rookie, but also let me tell you that you are about to learn. We all start from scratch, from nothing, and with practice and persistence we grow.

The 0.618 Fib. retracement level is a major level when it comes to Crypto. When a pair finds support at this level or near it, you can bet that prices aren't likely to move much lower.

Here we have HBARUSDT weekly and the test of this support happened twice on a wick. After the support was tested, we have a move above 0.5 Fib. with a full green candle, this is simply bullish.

The grey line I drew on the chart is our baseline. This level worked as support in late 2021. When this level failed HBARUSDT entered a strong bear-market. The bear-market consolidation and accumulation phase happened below. Then HBAR recovered and produced really high volume to move back above it and now, after a strong rise, the same level works as support.

In short, Crypto is going up.

Namaste.