Risk of a Sharp Downtrend
In the weekly technical analysis of HBAR, we observe that its chart has formed a triangular pattern.
Recently, the upper side of this triangle has broken, indicating that the initial target set (TP1) has been achieved.
After reaching this target, the price entered a corrective phase and reached a significant support area, which is highlighted in blue on the chart.
If bullish price patterns are observed in this support area, a price increase is expected to occur again. However, if this support level fails to hold and breaks, a sharp downtrend in HBAR's price is expected to begin.
Recently, the upper side of this triangle has broken, indicating that the initial target set (TP1) has been achieved.
After reaching this target, the price entered a corrective phase and reached a significant support area, which is highlighted in blue on the chart.
If bullish price patterns are observed in this support area, a price increase is expected to occur again. However, if this support level fails to hold and breaks, a sharp downtrend in HBAR's price is expected to begin.
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