💥 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
- Ethereum Price Outlook: Ethereum continues its downward trajectory toward $1740.
On the daily chart, the ETH/USDT pair is trading around $1920. The price remains below the 20-day exponential moving average at $2323, reinforcing the short-term bearish trend. The declining moving average continues to restrict any potential rebounds.
The Relative Strength Index (RSI) is at 27, and the Stochastic is at 15, indicating extended bearish conditions, although any corrective bounce will require confirmation.
Daily Chart of ETH/USDT
Immediate resistance is seen at $2107, followed by $2388. Support levels are at $1741 and then at $1524. Surpassing the $2388 level could open the way to $2746. Conversely, breaking below $1524 would reveal a level of $1404, signaling an extension of the downward trend.