HBAR/USDT - (BUY) HBAR bullish momentum still valid (Update)

Market & Ticker: Hedera Hashgraph – HBAR/USDT

Date: 25/04/2024

Horizon / Timing:  Tactical Mid-term / 1 to 3 months

Scenario: 

HBAR recently reached the previously target defined in august 2023 : https://www.rayn.finance/news/hbar-bullish-momentum-confirmed-1/

According the recent partnership (RWA) with Black Rock Money funds tokenisation, we do expect a larger HBAR adoption abroad pushing the Native Hedera token to next upside potential.

As long as 0.06 on a long run a larger move is expected to 2.20 with intermediate level to reach in a first phase at 0,31 and 0,5760

Update : The first support at 0.1180 has been challenged confirming a deeper setback before new recovery. We are focus on 0.0850 on a tactical view to keep a direct bullish scenario towards 0.1990 and 0.31.

Technical Key Elements:

• Auto similar move potential shows target at 2,20
• RSI indicator already confirmed the bullish momentum and keeps potential to the upside
• The Moving average are support
• Fibonacci key support is adjusted at 0,1180 while the Elliot wave shows upside potential towards 0,1990 and 0,31

Trade Idea conclusion:  Buy 

• Target 2: 0,31
• Target 1: 0,1990
• Buy: add in dip area 0,01180/0.10
• Stop: 0,0850(Daily close)

Chart: Daily Basis (Candle Stick) - Logarithmic 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

Disclaimer: The content of this analysis should not be considered as a study, an investment advice or a recommendation concerning products, strategies or a particular investment opportunity. This content is strictly for illustrative, educational or informational purposes and is subject to change. Investors should not base their investment decision on the content of this site and are strongly recommended to seek independent financial advice for any investment they are considering.