💥 HBAR price nears breakout as inverse head and shoulders pattern forms
HBAR price is consolidating below key resistance as an inverse head and shoulders pattern develops, signaling a potential bullish breakout if the neckline resistance is cleared with volume.
HBAR ($HBAR ) price action is showing increasingly constructive behavior as the market builds a classic bullish reversal structure on the higher timeframes. After an extended corrective phase, price has stabilized and begun forming an inverse head and shoulders pattern, a formation often associated with trend reversals when confirmed
Wait, is $BNB just a bottom print or is this another trap? Looking at the 30-minute chart, we were stuck in this volatile range between 587 and 620. Every time it tries to break through, sellers step in. Now, it’s at 606.59 after a quick rejection from that local high at 617. The structure looks a bit weak honestly. We’re forming lower highs on the hourly. If we can’t hold the 600 level, I expect a quick move back down to the support zone at 587. On the bright side, the order book shows some interest in good buying around 606 with about 77% bids, but that can disappear in seconds. Volume remains steady at 132,000 BNB, but there’s no real “strength” behind these moves. I remain cautious. I want to see a strong 4-hour candle close above 612 before even considering a long position.