They chose HBAR and KDA this weekend. Both altcoins are currently in high demand, which is why we analyze them in more detail. Can they capitalize on the current altcoin season? Where are the next obstacles?
Sometime
- HBAR chart analysis
- HBAR daily chart
- kda chart analysis
HBAR chart analysis
Source: Trade View*
HBAR hasn’t really benefited from the short altcoin season so far. Again, we are seeing price increases, but not as much as many other altcoins.
Right now we are trading around $0.07. The 4H-EMA straps give us support and set the trend. The trading volume is clearly declining. We don’t want it to be bullish.
On the RSI, we find bearish divergence followed by bearish divergence, which is why the market is clearly sloping down. However, that doesn’t preclude a fake pump of around $0.08 to close and then exit the short position here.
HBAR daily chart
Source: Trade View*
We see bullish signals on the daily chart. We have a bullish divergence that has already been played out in part, but without actual trading volume.
We had seen a perfect jump on our monthly support S1. We haven’t reached our Green Buy Zone yet, which certainly doesn’t mean we can’t see it yet.
For now, we have the Daily EMA band on the way up. So we need to break it at around $1. Here is our first strong resistance area.
kda chart analysis
Source: Trade View*
In kDa we see an ascending trend channel accompanied by a descending trading volume. First of all, that’s not a good sign. Next we draw an ascending triangle.
Directly above us are major resistances in the form of the 200 SMA and EMA. A fake sell with low volume at the top is most likely to happen here up to around $2, after which it dumps again.
An uptrend with declining volume indicates market weakness – even in a consolidation phase. Additionally, we have a bearish gap on the shorter time frame.
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