Technical analysis by elfabiiani about Symbol HBAR: Buy recommendation (6/4/2025)

Technical Analysis – HBAR/USDT (Daily Chart as of June 4, 2025)Chart Pattern: Falling Wedge (Bullish)The chart indicates a classic falling wedge pattern, often interpreted as a bullish reversal signal.This pattern is marked by descending converging trendlines, suggesting declining volatility and potential breakout.Breakout point is illustrated just above the wedge’s resistance line, with a bullish breakout expected.Key Support & Resistance LevelsImmediate Support Zone: $0.1625 – $0.1723 (blue zone)Primary Resistance Targets:Short-term: $0.1849 (top of Bollinger Band)Mid-term: $0.2070 – $0.2200Long-term: $0.3400 (strong historical resistance)Indicators SummaryBollinger Bands: Price near the lower band, indicating potential upside volatility.Volume Profile: Slightly increasing near wedge apex, often a precursor to a breakout.VMC Cipher_B: Multiple green dots signal bullish divergence; momentum may be reversing upward.RSI (14): Currently recovering from oversold territory (~39.5), suggesting bullish momentum building.Money Flow Index (ArTy): Moving back into the green, indicating capital inflow and potential accumulation.Stochastic RSI: Crossed upward from oversold zone (currently ~23), a common signal for trend reversal.Trading PlanLong Position Setup (Swing Trade)Entry Zone:$0.1650 – $0.1725 (upon retest of breakout from wedge or candle close above wedge resistance)Stop-Loss:$0.1580 (below wedge support and key structure low)Take-Profit Targets:TP1: $0.1850 (Bollinger Band and resistance zone)TP2: $0.2070 (resistance from March 2025)TP3: $0.2200 – $0.2400 (target zone for full wedge breakout)TP4: $0.3400 (macro-level resistance, if rally continues)Risk-to-Reward: Minimum R:R of 1:2.5 to 1:5 depending on TP level.⚠️ Risk Management & Strategy NotesWait for confirmation breakout candle with strong volume above wedge resistance before entering.Scale in gradually between $0.1650–$0.1725 if confirmed.Trail stop-loss after reaching TP1 to lock in profits.Monitor Bitcoin price trend and overall market sentiment—HBAR tends to follow macro market structure.The combination of the falling wedge, bullish divergence, and oversold momentum indicators supports a strong potential for bullish continuation. However, conservative confirmation is essential before committing capital.Outlook: Bullish bias, pending confirmation breakout above the wedge resistance.