💥 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
Crypto world afternoon news: Arthur Hayes predicts HYPE has the potential for a rise of up to 126 times; regarding Japanese policies and institutional movements, Metaplanet increased its Holdings by 103 BTC, bringing total open interest to 18,991 coins, and confirmed it will be included in the Fuji Day Index in September. In addition, the Chairman of the Japanese Senate Budget Committee stated that he is promoting a reduction of the encryption asset tax rate from 55% to 20%, and SBI announced plans to build a stablecoin payment system different from JPYC.
Market dynamics show that a certain Ethereum whale has once again opened long positions, with a holdings value of approximately $111 million; however, Bitcoin spot ETFs saw a net outflow of $1.17 billion last week, with BlackRock's IBIT leading at $615 million. Ethereum spot ETFs also ended a consecutive 14-week net inflow, with an outflow of $238 million last week.
On the macro front, Barclays expects the Federal Reserve to cut interest rates by 25 basis points in September and December. CZ stated that the recent large number of photos does not constitute any endorsement or sponsorship.
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