Technical analysis by JWagnerFXTrader about Symbol HBAR: Buy recommendation (1/12/2022)

HBAR is the 33rd largest coin/token by market capitalization.Using Elliott Wave Theory as our guide. HBAR spent 2020 rallying in wave 1 and correcting in wave 2.Then, in the early days of 2021, HBAR rallied in wave ((iii)) of 3 driving it up near $0.40. The high registered in H2 2021 was the end of minor wave 3 and arrived at the 1.618x wave 1 relationship (see blue circle).The recent correction lower appears to be minor wave 4. Don't be surprised to see wave 4 dip back to near 0.15. If it does dip to 0.15, then a lucrative risk to reward ratio opportunity will exist with a minimum target of 0.57.