This long trade setup is based on Hedera (HBAR) showing significant strength after a strong bounce from the major long-term support zone around $0.15. The price has successfully broken out above key momentum indicators, including the 9-day SMA and the daily VWAP.
The current price action represents a classic pullback, re-testing these broken levels (currently around $0.245) as new support.
This retest offers a favorable entry point for a long position, anticipating a continuation of the uptrend.
Target: The primary profit target is the next major resistance level, located at approximately $0.347.
Stop-Loss: A stop-loss placed below the recent support structure at $0.197 would invalidate the bullish thesis.
Risk/Reward: This setup provides a favorable risk/reward ratio of approximately 2:1.
The current price action represents a classic pullback, re-testing these broken levels (currently around $0.245) as new support.
This retest offers a favorable entry point for a long position, anticipating a continuation of the uptrend.
Target: The primary profit target is the next major resistance level, located at approximately $0.347.
Stop-Loss: A stop-loss placed below the recent support structure at $0.197 would invalidate the bullish thesis.
Risk/Reward: This setup provides a favorable risk/reward ratio of approximately 2:1.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.