HBAR Keeps Printing Bullish Divergences; Here’s Why This One Matters More

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Ah, the unyielding drama of the cryptocurrency market. Once again, HBAR has decided to indulge us with yet another almost 18.5% decline in the past week. Oh, what a joy it is to watch, especially with its ongoing weakness on the monthly chart. But lo and behold, the price is still stubbornly clinging to the lower boundary of a falling wedge that’s been keeping it company since October 10. How delightful! A wedge, yes, a bullish pattern – but, of course, now under pressure like a soggy biscuit in a rainstorm.

But wait, there’s more! The real star of the show today is the bullish divergence making its grand return – and this time, it might actually matter. Well, maybe. We’ll see. 🙄

Recurring Divergences Hint At A Bounce, But Break Risk Remains

The first sign of hope comes from momentum. Between October 11 and November 16, HBAR managed to form a lower low on the chart, while the Relative Strength Index (RSI) – you know, that reliable old fellow that tracks buying strength – formed a higher low. This, my friends, is a classic bullish divergence. It signals that sellers are losing their grip, even as the price keeps sliding down, just like that one friend who insists they’re “almost there” but can’t seem to find the door. 📉

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Now, before you start preparing the champagne for the rebound, let’s talk about history. A similar divergence made an appearance between October 11 and November 14, but alas, that rebound was a mere mirage. Weakness in November led HBAR right back to the wedge support. Sad, really. But this time, the divergence shows up just as the price is sitting on the last meaningful support inside the wedge. Oh, the suspense! If the lower trend line holds, we might actually see a proper setup. But if HBAR falls below that line? Well, we can all start crying over the broken wedge and the inevitable bearish fate that awaits. 😢

Let’s not forget the lower trend line only has two touchpoints. Two! That doesn’t exactly inspire confidence if market conditions take a turn for the worse. But hey, at least we have a few touchpoints, right?

And now, for the twist – enter the Chaikin Money Flow (CMF). This nifty indicator tracks whether those big, scary wallets are adding or removing capital. Earlier rebound attempts failed because CMF stubbornly declined, refusing to confirm the RSI divergence. But now, like a knight in shining armor, CMF has decided to curl upward after a steady decline since November 10. As long as CMF stays above its trend line, it’s cheering on the RSI divergence. This, my friends, is why this particular divergence might matter more than the last. Maybe, just maybe, the stars are aligning. 🌟

If both metrics remain aligned – brace yourselves – we might see a solid rebound structure for HBAR. If CMF dives lower again, well, the whole thing collapses like a poorly built house of cards. But don’t worry, the CMF still needs to climb above zero to truly confirm a rebound, or even better, a reversal. Stay tuned, folks. ⏳

HBAR Price Levels Hold The Key

The HBAR price is currently perched at a critical level. A daily candle close below $0.145 would destroy the wedge and bring about an unfortunate plunge into deeper downside. At that point, any semblance of bullish divergence would be as useful as a screen door on a submarine. 🚢

For a glimmer of hope, HBAR must clear $0.165. This would mark a 10% rise and confirm that buyers have decided to grace us with their presence after the divergence. If that happens, we can look forward to $0.186, which sits tantalizingly close to the wedge’s upper trend line. Get the confetti ready. 🎉

If $0.186 is reclaimed, the falling wedge breaks to the upside, and we might just be looking at a glorious march towards $0.219 or higher. Can you feel the excitement? Or is that just the impending doom of the market? 🤷‍♂️

For now, everything hinges on the wedge support holding strong. If it does, this latest bullish divergence – backed by rising CMF – may just be the first one strong enough to matter. Or not. But hey, let’s hope for the best! 🙌

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2025-11-17 15:22