HBAR Bulls Maintain Momentum as Key Resistance Looms
2025-01-16
Category: None

BYBIT:HBARUSDT  exhibits a steady uptrend, supported by the 9 EMA remaining above the 20 EMA. This alignment underscores sustained bullish sentiment. However, the MACD histogram's gradual narrowing suggests a possible slowing of upward momentum. RSI readings in the low 60s to 70s indicate moderate bullish strength without nearing overbought conditions.

Hedera is approaching a key resistance level at $0.33433. A breakout above this level could signal further bullish continuation, targeting higher levels near $0.341. On the downside, support levels at $0.30998 and $0.30813 provide critical zones for bulls to defend. Long positions could be considered on a strong breakout above $0.33433, while a pullback to $0.30998 may offer another entry point if bullish indicators hold.

Traders should remain cautious as momentum indicators suggest a possible slowdown. Short positions might be viable near resistance zones if rejection occurs, particularly with confirmation of bearish divergence on key indicators.
