#HBAR#

Hedera (HBAR) Technical Analysis (Current Price: ~$0.17)
1. General Price Movement and Trend:
* According to the latest data, HBAR is trading at $0.17, up around 2.29% in the last 24 hours.
* However, it has fallen by 10.76% in the last week and 12.19% in the last month. This suggests some selling pressure in the near term and is affected by general market declines.
* Still, its 66.90% increase in the last year may indicate that it maintains its long-term potential.
* Looking at how far the current price ($0.17) is from its 7-day high of $0.1962 and its 7-day low of $0.1683 is important to understand the short-term range. The current price is closer to the 7-day low.
2. Support Levels (Potential Buy Points):
Considering the current price of HBAR (around $0.17), the key support levels could be:

* Primary Support: The most critical support level in the near term is the $0.168 - $0.165 range. This range is very close to the last 7-day low and the current price. If this level holds, an upward reaction could be seen.

* Secondary Support: If the primary support is broken, the next strong support level could be the $0.14 - $0.15 range. There may have been strong buying from these levels in the past price action. Some sources indicate that the $0.14 level could be a support level if the 14-day RSI is below 30%.

* Critical Support: In a deeper correction, the $0.125 - $0.13 range could be a key psychological and technical support level. These levels may have acted as a significant bottom or consolidation zone in the previous price action.
3. Resistance Levels (Potential Selling Points):
Considering the current price of HBAR (around $0.17), the major resistance levels could be:

* Primary Resistance: The first resistance level to be overcome in the near term is the $0.18 - $0.185 range. This level may act as a limiting area for the price to move upwards in recent days.

* Secondary Resistance: If the primary resistance is broken, the next target could be the $0.195 - $0.20 range. This is a resistance near the last 7-day high and is a psychologically important threshold.

* Tertiary Resistance: In a stronger bullish momentum, the $0.22 - $0.23 range could act as a major resistance. These levels could be the upper limits of a downtrend or consolidation on a longer time frame. Some analysis indicates that the 1-month high of $0.2283 could remain as a resistance.
* Major Resistance: For HBAR to start a bigger rally, it is important to break the $0.285-$0.30 range. This could coincide with 13-week highs, and breaking this level could open the door to a bigger rally. It could even pave the way for a move towards the 52-week high of $0.40.

* RSI (Relative Strength Index): Given the recent 7-day decline, the RSI is likely trading near the moderate to slightly oversold territory (between $30-50). If it is close to 30, it could be interpreted as a buying opportunity, while around 50, it is in indecisive territory.

* Potential Arguments for a Long Position:

* HBAR is still a long way from its all-time high of $0.57. Its long-term potential and institutional adoption story continues.
* If the $0.165 - $0.168 support zone can be successfully held, this could present a good opportunity for a bounce.

* A recovery in the general crypto market or an upward move in Bitcoin could also push HBAR higher.

* If positive signals form in technical indicators (such as bullish divergence in RSI, bullish crossover signals in MACD), this could create a buying opportunity.

* Risks and Things to Consider:

* The recent drop of more than 10% suggests continued selling pressure.