💥 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
A simple framework for considering the potential valuation of ETH (and BTC) in this cycle:
Cryptocurrency Market Cap 10 trillion dollars;
BTC peaked at 40% (compared to 43% in the previous cycle);
ETH peaks at 45% of BTC market capitalization (compared to 50% in the previous cycle);
Market Cap of ETH at peak = 1.8 trillion USD
The ETH price at the peak of the cycle is $14,984 (3.9 times).