Hedera (HBAR) Market Analysis

The CMF on the daily chart of HBAR was above +0.05, highlighting heavy capital inflows. Sustained buying pressure is likely to drive the rally higher over the coming weeks.

HBAR has retested $0.176 as support, as laid out in an analysis from February, but it took longer than anticipated.

The Bitcoin (BTC) move below the $92k support affected the altcoins, but some have begun to react positively after the recent losses. HBAR was one such token.

Hedera on a Bullish Trajectory, Targets $0.284

The break above the recent lower high at $0.23 showed a bullish market structure break on the daily chart. This came on the back of the defense of the 61.8% Fibonacci retracement level at $0.175.

The CMF had dropped to -0.24 on February 24th. Over the past week, the CMF has reversed its course and was at +0.09 at press time, indicating a shift from extremely bearish to sizeable bullish capital flows.

However, the Awesome Oscillator remained below the zero line, showing bearish momentum persists. The $0.255-$0.265 region was a strong support zone in December but failed in January. On the way upward, Hedera bulls would likely face opposition from sellers in this region.

Therefore, despite the bullish structure break, a quick move toward $0.35 might not materialize. The fair value gap from $0.216-$0.242 might be revisited before another move higher.

Santiment data showed that Social Volume had been trending downward alongside the price, but recent gains ended this trend. Social Volume has improved, and Weighted Sentiment is in positive territory once again.

The 1-month liquidation heatmap revealed that the liquidity pocket at $0.25 has been swept. The price could consolidate around the $0.24 region in the coming days, building up liquidity before it is leveraged for upward movement.

As things stand, the next upside targets are $0.267, $0.284, and $0.326. To the south, the $0.224 and $0.24 levels have also seen liquidation buildups. In a few days, a dip to these levels could present a buying opportunity for swing traders.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion