In our last article, we discussed the possibility of HBAR reacting to two specific supply zones, which could potentially lead to a bounce. However, to our surprise, HBAR did not react to those zones, and it continued to rise.
If we shift our attention to the H1 timeframe, we observe a classic and rather interesting setup. There are two distinct liquidity zones—one at the 0.148 level and the other at the 0.154 level. These zones have been hit multiple times, and they are significant because they hold a large volume of orders.
Now, if I were to make a prediction—and this is just speculation based on technical analysis—HBAR will likely rise to one of those zones, stall, and then reverse to reach the other zone. This is a common occurrence in the market, where price levels are drawn to nearby liquidity.
Having said that, I want to emphasize that technical analysis is not foolproof, and price can still do whatever it wants. Ultimately, the market will decide.
Moreover, I want to highlight that there is a difference between trading and investing. While HBAR is a promising project with strong fundamentals, it’s important to align your trading activities with your investment goals.
If you're interested in a long-term investment in HBAR, then holding it for several months or even a year could be a viable strategy. However, if you're focused on short-term trading opportunities, then identifying trading setups and exiting positions quickly is crucial.
In essence, both approaches can be successful depending on your objectives and trading style. The key is to choose a strategy that suits your risk tolerance, time commitment, and overall financial goals.
As we continue to monitor HBAR's price movements, we'll provide updates and analysis to help you navigate the crypto market effectively. Stay tuned for further insights and keep an eye on the technical indicators to guide your trading decisions.
In the meantime, happy trading!
