💥 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
Ethereum previously rebounded from the 1736 level to around 2152, facing resistance, then oscillated and declined. Currently, the price is around 1930. The middle band of the Bollinger Bands is near 1980, the upper band has moved down to around 2075, and the lower band is near 1890. Overall, the bands are converging, and the trend shows a weak oscillation pattern.
Structurally, the highs are gradually decreasing, with limited rebound strength. The current price remains under the middle band’s resistance, favoring a short-term bearish rhythm. However, the 1880-1900 zone below provides temporary support, with multiple tests without clear volume breakout, indicating that support remains.
The intraday strategy is mainly to short on rebounds. Watch the 1970-2000 resistance zone above. If the rebound fails to break the middle band, consider gradually shorting, targeting 1900-1880. A breakout could extend the decline toward around 1850. If volume confirms a steady move above 2000, promptly cut losses on short positions and switch to a wait-and-see approach, looking for resistance around 2050.
Overall, the rhythm is weak oscillation. Control position sizes, avoid chasing highs or selling lows, and focus on quick entries and exits around key zones, with high-probability trades.