HBAR price holds its recovery—can it clear $0.083?

$HBAR traded near $0.078 on Tuesday, 15 September, after recovering from a drop to $0.0763, up by 0.36% at the time of this writing.

The modest gain keeps $HBAR’s recent recovery alive, but buyers must be able to overcome the $0.080 price area, and then the $0.083 price area, before the rebound can develop into a stronger advance.

$HBAR steadies after August breakout

$HBAR spent much of the summer losing ground, with its price falling from around $0.10 in June to around $0.065 by the middle of August.

But then it was back, as it climbed past $0.08, having broken out of a falling wedge!

$HBAR hit $0.0799 during Tuesday trading, but as it did not breach the $.080 level, it fell back to around $0.078, leaving buyers in range of another attempt.

It is also trading at a price point above where it spent a lot of the last few weeks; this strengthens the cause for the rally instead of invalidating it as an outlier.

Why $0.083 remains the key test

Since its recent rebound in August, $HBAR has stagnated near $0.083. If it can overcome this resistance level, it will surpass its recent highs, reinforcing the notion that buyer dominance is returning.

$HBAR moving from $0.078 means it would need a rise of 6.4%, i.e. to $0.083.

The chart’s momentum reading indicates that buying pressure is only slightly stronger than the selling pressure. The volume is only 14.5m $HBAR, however, which is far below what was seen during the surge in August.

More convincing confirmation of recovery is still needed. A rise propelled by busier trading would be more persuasive of that fact, encouraging it to break the US$0.083 line than hovering at it.

Should $HBAR lose the $0.076, $0.77 area, the latest spike might end up being a fade, but if it is able to move beyond $0.083, the longer-term barrier will be near $0.089.

Final Summary

• $HBAR traded around $0.078 after recovering from an intraday low of $0.0763.
• The recovery remains, but muted volume and resistance around $0.083 make any case for a rise difficult to support for now.