Hedera (HBAR) - Mid-Short-Term EW-Analysis
This chart represents HBAR in its Mid-short term Elliot wave analysis.
After completing its initial impulse in green Wave 1 and the corrective green Wave 2, HBAR established its first impulse at the light-blue degree. This light-blue one-two structure signals the beginning of the forthcoming green Wave 3.
HBAR is currently trading within our defined Fibonacci retracement zone:
- 50% retracement at 0.21 USD
- 61.8% retracement at 0.19 USD
Within this zone, we anticipate the completion of light-blue Wave 2, followed by the onset of light-blue Wave 3. This wave is expected to advance further, later give way to a brief corrective Wave 4, and then extend into Wave 5 at the light-blue degree — altogether forming the larger green Wave 3.
For this green Wave 3, we have projected a Fibonacci extension target zone:
- 161.8% extension at 0.69 USD
- 261.8% extension at 1.04 USD
Trading Plan:
Our Fibonacci retracement zone offers a compelling buy opportunity for HBAR. From here, we are watching closely for a break above the neon-green resistance line at 0.30 USD, which would confirm the continuation of the impulsive structure to the upside.
Keep in mind:
This outlook reflects our primary expectation for HBAR`s Mid to short-term performance. Always ensure that you review our long-term projections first before moving on to our mid- and short-term Elliott Wave analyses.
