💥 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
The market has reached this point, and no matter how stubborn the bulls are, they have to admit that we are transitioning from a early bull to a deep bear!
Looking at the weekly charts of Bitcoin and ETH, it's clear that a head and shoulders top has formed!
Bitcoin's bottom in April was $74,508, and the current lowest point is $74,604, only $100 apart, just a 0.1% difference.
Correspondingly, ETH's bottom in April was $1,385, with the current bottom at $2,157, which is more similar to the June bottom of $2,111. From this perspective, ETH seems stronger, but it can also be said that ETH hasn't bottomed out yet. Will there be a further dip later?