💥 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
$DOGE
Current Position: $0.09364, up 4% in the last 24 hours
Technical Setup:
Trend: The price recently bounced from a low of $0.08790 and is now testing the MA5 (5-period moving average) at $0.09354
Moving Averages: Price is trading between MA5 ($0.09354) and MA10 ($0.09294), with MA30 lower at $0.09133 - this suggests short-term bullish momentum within the 1-hour timeframe
Resistance: Immediate resistance at the 24h high of $0.09427, which it's approaching now
Support: Strong support zone around $0.08790-$0.08925
Momentum Indicators:
MACD: Shows positive histogram bars with MACD (0.00029) slightly above the signal line, indicating mild bullish momentum
Volume: Recent volume spike visible, suggesting increased interest at this level
Outlook:
The 1-hour chart shows a recovery pattern after the earlier dip. If DOGE breaks and holds above $0.09427, it could test higher levels. However, if it fails to break resistance, it might consolidate or retest the $0.092-$0.093 support zone.
The perpetual funding rate is positive (+4.04%), indicating more longs than shorts, which can sometimes precede corrections if overleveraged.
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