- Potential Bullish Setup: HBAR appears to be forming a five-wave upward pattern since the April low, a structure often associated with strong market trends. This initial rise could mark the first leg of a broader bullish move, but the ongoing pullback needs close monitoring.
- Correction Phase and Key Support Levels: The current correction phase may be unfolding in an ABC pattern, with support lying between $0.142 and $0.169. So far, HBAR is holding above the higher end of this range, a positive sign that could keep bullish momentum intact.
- Market Outlook and Key Levels to Watch: While there’s no strong sign of buyer activity just yet, the slowdown in the pace of decline suggests potential market stabilization. A decisive hold above the $0.142 – $0.169 zone could increase the likelihood of a new bullish wave forming in the upcoming sessions.
HBAR is showing early signs of a larger bullish move, but the current pullback needs close monitoring. At the time of writing, the asset is trading at $0.19, hovering around a crucial zone that could dictate its next direction.
Five-Wave Pattern Formation: A Potential Bullish Setup?
Since the April low, HBAR’s price action appears to have formed a five-wave upward pattern — a sequence often linked to strong market trends. In simple terms, the price made five distinct moves up, signaling the start of a larger trend. This upward wave may have marked the first leg of a bigger bullish structure.
On April 7, the market correction seems to have bottomed out, setting the stage for a potential new uptrend. This recent rise could be the initial wave of a more extensive bullish movement.
Correction Phase: Is It Just a Pause?
After the initial push, HBAR appears to have entered a correction phase. This isn’t unusual; markets often take a breather after a rally to decide their next direction. The current pullback is likely unfolding in an ABC pattern, a typical corrective structure.
Support for this correction lies between $0.142 and $0.169. So far, HBAR has managed to hold above the higher end of this range, which is a positive sign for the bulls. Maintaining support here could be crucial for confirming the next move.
What’s Next? Market Outlook
There’s no definitive sign that buyers are stepping in aggressively yet. However, the decline seems to be losing momentum, hinting at possible market stabilization. A more bullish scenario involves HBAR attempting a quick move to the upside without much further downside action — but for now, this needs confirmation.
Investors and traders should keep a close eye on the $0.142 – $0.169 support zone. Holding above this area could increase the odds of a new bullish wave forming, setting the stage for further gains in the sessions ahead.
