Technical analysis by keyvankho about Symbol HBAR: Buy recommendation (3/7/2025)

HBAR/USD currently at $0.246 as of March 7, 2025, is forming a descending triangle nearing its apex. This post focuses on the potential upward breakout. The price is within a descending triangle, with a downward-sloping resistance (yellow line) and support around $0.1750. At $0.246, it’s below the 50-day SMA ($0.26064) and 100-day SMA ($0.27227) but above the 20-day SMA ($0.22169) and 233-day SMA ($0.19104). A bullish MACD crossover (0.00142, -0.00902), neutral RSI (51.37), and declining volume (-13.71%) suggest a breakout could be imminent with the right catalyst.Upward Breakout Scenario:Breakout Trigger: A strong candle close above the descending resistance line with a significant volume increase. Target: $0.3500 (previous high), based on the triangle’s height projected upward from the breakout point.Speed of Breakout:The speed of the move to $0.3500 depends on market dynamics: Fast Scenario (1-3 Days): If the breakout is accompanied by a strong volume spike (e.g., 2-3x the current 106.67M) and positive news (e.g., partnerships or adoption), HBAR could reach $0.3500 rapidly. Historical momentum in similar setups suggests a 40-50% gain in 1-3 days, driven by FOMO and short covering. Moderate Scenario (5-10 Days): With moderate volume and gradual buying interest, the price might climb steadily, taking 5-10 days to hit $0.3500 as it tests resistance levels like $0.26064 (50-day SMA) and $0.27227 (100-day SMA). Key Factor: The current low volume and neutral RSI indicate the breakout’s speed will hinge on a catalyst. A sudden surge could accelerate the move, while a lack of momentum might prolong it.Entry: Above the resistance line with volume confirmation. Stop-Loss: Below $0.1750 or the recent swing low. Target: $0.3500, achievable in 1-10 days depending on volume and news. Support to Watch: The HVN at $0.24351 is a current key support; a drop below it before breakout could signal weakness. Post-breakout, monitor the broken resistance line as new support.Disclaimer: For educational purposes only, not financial advice. Trade responsibly.