💥 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
In early June, Bitcoin whipsawed between $66,500 and $73,700. It is expected that in the latter half of June, Bitcoin will likely break through the new high of $73,700 and head straight to $78,000. Meanwhile, Ethereum will drive the altcoins to the moon, and this cycle is expected to last for 1-3 months.
In September, after the interest rate cut is implemented, a pullback will occur, and the market will start to oscillate and decline, oscillating in the range of $70,000 to $85,000. During this period, the institutions will accumulate for the last time, lasting for one month. In November, Bitcoin will erupt again, and it is expected to rise to $130,000 to $140,000 in March or April 2025.