💥 HBAR price nears breakout as inverse head and shoulders pattern forms
HBAR price is consolidating below key resistance as an inverse head and shoulders pattern develops, signaling a potential bullish breakout if the neckline resistance is cleared with volume.
HBAR ($HBAR ) price action is showing increasingly constructive behavior as the market builds a classic bullish reversal structure on the higher timeframes. After an extended corrective phase, price has stabilized and begun forming an inverse head and shoulders pattern, a formation often associated with trend reversals when confirmed
Pi Network will also be in the spotlight as its performance continues to disappoint. The token was trading at $0.60 on Sunday, much lower than the all-time high of $3.
A key reason for the plunge is the ongoing supply increase in the network. Data shows that over 1.58 billion tokens will come online in the next 12 months. The average monthly unlocks are 131 million, valued at over $82 million.