💥 HBAR price nears breakout as inverse head and shoulders pattern forms
HBAR price is consolidating below key resistance as an inverse head and shoulders pattern develops, signaling a potential bullish breakout if the neckline resistance is cleared with volume.
HBAR ($HBAR ) price action is showing increasingly constructive behavior as the market builds a classic bullish reversal structure on the higher timeframes. After an extended corrective phase, price has stabilized and begun forming an inverse head and shoulders pattern, a formation often associated with trend reversals when confirmed
12.23 Sol Morning Open Strategy
From a technical perspective, the daily chart is in a downtrend, the 4-hour chart shows a "bearish engulfing" pattern, and the on-chain TVL has dropped to a six-month low, with large whales continuously net flowing out, indicating that the medium to long-term bearish pattern remains unchanged. The 1-hour MACD red bars are shortening, the bullish momentum is weakening, and the rebound volume is shrinking, indicating a weak correction within the downtrend.
Operation suggestion: Arrange a short position in the range of 129-131 on the rebound, target 123-119.
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