Technical analysis by RICHSTOXCOM about Symbol HBAR: Buy recommendation (7/26/2024)

Hello,Here's a concise update based on our latest technical analysis chart:Liquidity SweepWe've seen a liquidity sweep, where the price dipped to clear out stop-loss orders, gathering liquidity for a potential upward move.Broken DowntrendThe downtrend has been broken, suggesting a possible shift in market sentiment from bearish to bullish.Volume IncreaseThere's an increase in volume, indicating heightened trading activity and interest at these levels.Identified Buy ZonesWe've identified three key buy zones:Buy Zone 0: New entry point based on current analysis.Buy Zone 1: Above the downtrend break, signaling a potential entry for reversal trades.Buy Zone 2: Above the weekly Fair Value Gap (FVG), providing another strategic entry point.Fibonacci RetracementThe Fibonacci retracement levels (61.8% - 78.6%) are marked, often used to identify potential reversal points.Rejection PointA rejection at a specific level indicates strong resistance, useful for setting stop-loss orders and managing risk.Target PriceA target price is identified, offering a potential exit point to capture gains from the expected upward move.The price did not break the downtrend line as anticipated. Therefore, this trade setup is canceled. I'll be watching for another opportunity at a lower level.