HBAR/USDC - (RANGE - NEUTRAL) HBAR reached 0,20 – a pause in range is likely before new rise.
Market & Ticker: Hedera Hashgraph – HBAR/USDC
Date: 02/12/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
According the recent result in US election (trump), we do expect a larger HBAR adoption abroad pushing the Native Hedera token to next upside potential.
We can’t ignored a significant trading range at current price as long as 0.34 is not clearly bypassed in daily close. As long as 0.083 and 0.34 remains support and resistance valid a trading range should occur before any new upside potential towards the long term target at 1.20.
Technical Key Elements:
- Auto similar move potential shows target at 0,30
- RSI indicator shows divergence = consolidation risk
- The Moving average are support at 0.10
- Fibonacci key support is adjusted at 0,083 while the Elliot wave shows upside potential towards 0,34
Trade Idea conclusion: Neutral or Range
- Strategic Target : 1.20
- Tactical resistance : 0.34
- Tactical support: 0,0830 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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