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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