💥 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
bitcoin production cost estimate has fallen to $77,000
estimated bitcoin production cost is historically served as a “soft price floor” or support level
it has fallen to $77,000 from $90,000 as network hashrate and mining difficulty recently declined
overall, the JPMorgan analysts remain optimistic about crypto markets this year
analysts also reiterated their long-term bitcoin target of $266,000