💥 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
DYDX/USDT 4H chart.
Technical Observations
1. Current Price:
Around 0.6889 USDT, with a small bullish candle forming.
2. Bollinger Bands (BB 20 SMA):
Price has recently bounced off the lower band and is moving toward the midline (SMA 20).
Currently testing the midline resistance.
If price closes above the midline with volume, that may indicate strength.
3. Support Zone (Blue Box):
Around 0.6200–0.6500, clearly marked demand zone.
Previous wicks have bounced off this zone, showing strong buying interest.
4. Resistance Area:
Around 0.7000–0.7200 (from previous candle rejections)
📥 Entry Idea (Long Setup):
Entry: If the price closes above 0.6900 on the 4H candle (ideally with volume), that would be a confirmation.
Stop-Loss (SL): Below the previous swing low or lower Bollinger Band — around 0.6580–0.6600.
Target 1 (TP1): Around 0.7050–0.7100 (near previous highs).
Target 2 (TP2): **0.7300