HBAR - 24 jan. update
2025-01-25
Category: None

Hey,

It seems like HBAR is buckling up for a potential growth, but the key question is: will we see a correction first?

Currently, HBAR is trading between 0.618 and 0.5 Fibonacci levels, a range associated with indecision. If the bears manage to take control in the coming days and push the price below the 0.3 and reach 0.5 Fib zone, we might see a healthy correction before a bounce. However, with positive market catalysts like ETF approvals or broader bullish sentiment, HBAR could quickly recover above 0.5 Fib and aim for 0.886 Fib as the next target.

While the global uptrend is still with us, it’s worth noting that HBAR is in a local downtrend channel, which supports the possibility of a short-term pullback. 

 History  has shown us that during the previous cycle, HBAR reached 0.45 before falling sharply to 0.14, losing over 70% of its momentum during the correction. This is a reminder to remain cautious, as larger corrections can still happen before hitting ATH, as it was in 2021 cycle.

For now, let's keep an eye on how the 0.618 and 0.5 Fib zone reacts in the upcoming days. Whether we break out or see a deeper correction, risk management is the key. 

IMHO, It's a still good entry point for spot and low margin futures traders.

📉 Short-term: Monitor the local downtrend channel.
📈 Mid-term: A break above 0.618 could lead to retesting 0.886 Fib.

Stay hungry and trade smart! 💹