HBAR Technical Analysis: Breakout Rally Struggles To Continue

HBAR coin price surpasses the resistance trendline, but the rally struggles to sustain the bullish rally. Will buyers resurface to boost the uptrend? Key technical points: HBAR coin price struggles to sustain above $0.20. In addition, the 50-day EMA continues to provide dynamic resistance. Finally, the 24-hour trading volume of Ontology is $69 Million, marking a negligible rise. Past Performance of HBAR HBAR coin price finds demand near the $0.20 support level resulting in the long-coming resistance trendline breakout with a jump of 10% last week. However, the breakout trend goes into consolidation made up of Doji candlesticks instead of the anticipated rally above the 50-day EMA. Source-Tradingview HBAR Technical Analysis HBAR coin price shows multiple lower price rejection Doji candlesticks post-breakout indicating a solid underlying bullishness. Hence, a jump to the 50-day EMA can be seen in the upcoming sessions. The crucial EMAs (50, 100, and 200) maintain a bearish formation, with the uptrend enduring numerous turndowns at the 50-day EMA. However, the trendline breakout could result in a price jump to the 50-day EMA. RSI Indicator: The RSI slope finally surpassed the halfway mark after the constant struggle last month. Furthermore, the 14-day SMA shows a bullish influence as it rises higher. MACD Indicator: The MACD and signal finally diverge to increase the bullish span and regain the uptrend momentum to reach the zero ...