Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.

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Alright, let's get straight into the discussion, Happy reading!!

Hedera (HBAR) Analysis

Today, October 16, 2023, I will try to technically analyze the price movement of Hedera.

SOURCE: TradingView

If we look at the price movement of HBAR in general, we can see that HBAR is in a very deep bearish phase. We can see this in the HBAR price movement pattern in the chart above where the candlestick tends to move downwards if we look closely.

SOURCE: TradingView

The chart above also shows that the current Bearish Trend in the HBAR/USD market will continue for the next few days because the HBAR price has broken the Support Level at $0.206.

SOURCE: TradingView

This is confirmed by the EMA Indicator with a Death Cross occurring between the 100 EMA and 200 EMA.

SOURCE: TradingView

But the ADX indicator gave another confirmation with the presence of a cross between the two DI lines where the DI- the line started to move below the DI+ line.

SOURCE: TradingView

Not forget, the RSI indicator also shows that there is an oversold phase in the HBAR/USD market is over, this can be proven by the movement of the RSI line above the Lower Band which is the lower limit of the RSI indicator.

Disclaimer: