HBAR Technical Analysis: Recovery Within Wedge Hopes A Breakout

The HBAR coin price gains extreme bullish momentum evident by the 15% recovery in the past week. Will this uptrend give a breakout entry opportunity? Hedera is one of the largest widely used and sustainable enterprise-grade public networks for decentralized economies that allows businesses and individuals to develop powerful decentralized apps (DApps). Hedera Hashgraph employs a new consensus method known as Hashgraph consensus to protect its network. The governing council of 39 organizations with a wide range of interests cover eleven diverse industries. They are responsible for directing on the Hedera codebase, making platform decisions, and running the initial nodes of the Hedera public network. Let us move ahead to read about HBAR technical analysis. Past Performance of HBAR The HBAR coin price continues the wave of lower low formations under the influence of a resistance trendline in the daily chart. The price shows a downfall of 30% in the last month including the 15% jump in the last week. The price approaches the resistance trendline with increased bullish morale to overcome the selling pressure. HBAR/USD Daily Chart HBAR Technical Analysis The HBAR coin price action shows a bullish retracement from the $0.20 horizontal level within the falling wedge pattern. Moreover, the jump increases the chances of a bullish breakout as the pattern bottles up. The crucial Exponential Moving averages shows a bearish crossover of the...