HBAR, which is located in the crypto money market, has recently been watching horizontal in a narrow range. Altcoin is traded at $ 0.255 as of the moment the article is prepared. Investors are cautious because of the uncertainty about HBAR’s subsequent steps. How to shape Hbar’s price movements in the future, general market conditions and leading crypto currency Bitcoin $118,396.50seems to be dependent on the course.
High correlation with Bitcoin
HBAR’s corresponding coefficient with Bitcoin is currently 0.72. This shows that Altcoin is very sensitive to Bitcoin’s movements. In other words, it is thought that HBAR can follow a positive course if Bitcoin is rising. As long as Bitcoin captures a positive momentum, Hbar’s chances of recovery increases.
According to beincrypto sources, Bitcoin’s performance as the leading indicator in HBAR’s price movements stands out.
In particular, investors, when large crypto beings such as Bitcoin rise, are likely to turn to connected subcoins such as HBAR. For this reason, the way HBAR will follow in the short term may be closely linked to the movements in Bitcoin.
What do the technical indicators say?
From a technical point of view, HBAR’s average convergence Iraqsma (MACD) indicator indicates the possibility of a possible “intersection in the upward direction .. However, there is no strong acceleration by recipients in the current situation; Therefore, a clear rise signal has not yet been taken. The indecision of investors also draws attention with the fact that the histogram reflects the seller pressure from time to time.
According to experts, positive signals in technical indicators need to gain weight in order to create a sustainable trend of HBAR. Otherwise, indecision prices in the market may continue to suppress. In addition, HBAR’s investor interest is expected to be strengthened on the volume side in order to increase again.
Next Step: Resistance or support?
Hbar is currently exhibiting horizontal movement between $ 0.271 and $ 0.244. In a broad sense, investors do not seem to be willing to take new positions without a non -market trigger signal. In the current consolidation environment, the price is not expected to show a sudden direction of direction.
In the opinion of market experts, Bitcoin’s strengthening tendency to rise in the event of a tendency to break HBAR’ın $ 0.271 said. In this case, the price may be likely to rise up to $ 0.291.
On the other hand, it is suggested that if Bitcoin loses value, HBAR may go below $ 0.244 support and the price may decline to $ 0.230. Such a decline can lead to reinforcement of cautious stance in investors.
In the assessment made by Beıncrypto, “In order for Hbar’s rise potential to fully emerge, the market and especially Bitcoin must follow a positive course.” his statements were included.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
