Main to remember
Hbar bulls must be careful of a price drop to a liquidity pocket nearby. A drop in this area of demand would be followed by a bullish reversal, provided that Bitcoin can also remain above $ 112,000.
Hedera (Hbar) was back below the high value area at $ 0.264. This VAH was drawn using the fixed beach volume profile, using the price action of the start of the year in press taking.
In a previous analysis, Ambcrypto noted that $ 0.285 to $ 0.3 was a key supply area for Hbar.
This has further reduced. Altcoin could not gather the strength to rally beyond $ 0.3, which briefly made a high level to $ 0.305 on July 27 before dropping.
However, the longer -term market structure was optimistic after the strong gains that the token noted in July.
Hbar traders, hunting for liquidity hunt
Source: Hbar / USDT on tradingView
The FRVP and the $ 0.234 support were highlighted on the price table at 1 day. The structure was still optimistic, because the price did not break below the lowest at $ 0.223.
Price action and technical indicators have shown that upward force could be decreasing.
The A / D indicator could not establish an upward trend, which would reflect a constant demand for Altcoin. Likewise, CMF has also dropped below -0.05 in recent days.
This has shown significant market outputs on the market.
Source: Coringlass
Ambcrypto expects a price drop at $ 0.22 or slightly lower soon. Investors can pick up the decline, while traders may want to stay away.
The accumulation of liquidity in the region from 0.218 to 0.223 $ since mid-July has made it a strong magnetic zone.
It is very likely to lower Hbar prices, although this drop can be brief. The longer term prospects would still remain optimistic. A drop below 0.206 would be a source of concern for merchants and investors.
In this scenario, a more conservative perspective would be possible.
A withdrawal of this depth can be expected if Bitcoin (BTC) does not defend the support area of $ 112,000 and falls below $ 110,000 in the coming days.
Notice of non-responsibility: The information presented does not constitute financial investments, exchanges or other types of advice and is only the opinion of the writer
