HBAR is finally crossing the MACD moving average on the 4 hour chart, which could indicate the bulls are taking over momentum again. If that’s the case, the Pivots Traditional study will make us retest the $0.40 range and then eventually we could discover the $0.53 range at R2. I chose the 4 hour chart because the 1 day was too steep and I needed more bars to find new patterns.
There is strong resistance around $0.37 that does worry me. In my mind, we must clear this threshold first before saying the bulls are back in control. If we bounce down again, we could further correct to $0.30 and see a bearish penant or flag develop. So watch that threshold closely and wait for a clear breakout to occur before taking a large position.