💥 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
Trader Eugene Ng Ah Sio Alerts to Possible Market Price Drop
The renowned cryptocurrency trader Eugene Ng Ah Sio recently expressed his caution regarding the current market. According to Odaily, the trader believes that prices could drop significantly from current levels, reflecting a much more challenging scenario than the present one.
While acknowledging that the market trend is evolving in line with his previous predictions, the trader maintains a defensive stance. Instead of seeking short-term opportunities, he has chosen to adopt a more conservative strategy: keeping capital in cash and waiting for a more favorable entry point when prices align with his purchase targets.
This approach reflects the prudence of an experienced trader who prefers to avoid potential losses rather than participate in a market he currently considers to be less promising.