💥 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
SOL remains in a weak oscillating pattern. After a continuous decline from around 106, it dipped to about 67 before rebounding, but the rebound strength was limited, with the highs gradually decreasing, indicating that selling pressure above is still significant.
Currently, the price is operating within the lower band of the Bollinger Bands, with the middle band pressing downward, and the opening skewed downward, suggesting a still bearish trend structure. Although there is a slight short-term rebound, the volume and sustainability are insufficient, mainly representing technical correction rather than a trend reversal.
In terms of daily strategy, the focus remains on shorting high rebounds and buying low dips.
Watch the 81-83 resistance zone above. If the rebound lacks volume and stabilizes above the middle band, consider gradually shorting with targets around 76. If broken downward, focus on the 73-70 area.
If the price revisits and stabilizes at 75-76 below, consider a light position to catch a short-term rebound, aiming for around 80. Avoid overextending in this pattern.
Overall, the rhythm is still a weak rebound within a oscillating downward trend. Operate with quick entries and exits, strictly set stop-losses, and avoid blindly holding onto positions in this market.