Categories: Analysis

DOT, HBAR can continue to move upwards while XDB shows signs of a peak

The Hedera Hashgraph (HBAR) is about to hit a new all-time high.

Polkadot (DOT) is moving along an ascending support line and has regained the USD 29 horizontal zone.

DigitalBits (XDB) has grown steadily and hit a new all-time high on September 13th.

HBAR

HBAR has been trading within a descending parallel channel since hitting its all-time high on March 14th. Such channels often contain corrective structures.

The decline continued through June 22, when the token bounced off the channel’s support line.

On August 14, the HBAR erupted over the parallel channel and has been accelerating since then.

It hit a high of $ 0.447 on September 13, slightly below a new all-time high.

Technical indicators are increasing. RSI and MACD are both rising and the supertrend line (green) is bullish.

Daily HBAR / USDT Chart | Source: TradingView

The wave counter indicates that the token is currently in wave five after breaking across the parallel channel.

The most likely target for the peak of the upward move is between $ 0.60 and $ 0.64. The target is found using the external fib retracement level of 1.61 (black) and the length of waves 1-3 (orange).

Weekly HBAR / USDT Chart | Source: TradingView

Highlights

HBAR erupted over a long-term descending parallel channel.
It is approaching a new all-time high.

POINT

The DOT has been higher since July 20th. After trying to get above the $ 29 zone, he finally managed to do so on August 31st.

The price then returned to confirm this zone as support on September 7th (green symbol), the area with an ascending support line. This resulted in a high of $ 38.07 on September 13th.

Technical indicators are relatively bullish as the MACD is in positive territory and the RSI is above 50. However, none of them are bullish.

Nevertheless, the price campaign looks optimistic. DOT was above the 0.618 fib retracement resistance level of 34.72. Hence, the next resistance is at $ 41.35.

DOT / USDT daily chart | Source: TradingView

Highlights

DOT moves along the rising support line.
There is support and resistance at $ 29 and $ 41.35.

XDB

XDB has been rising since June 20th and hit a new all-time high on August 5th. The price then pulled back to confirm previous all-time highs as support on August 13 and to form a long wick underneath.

The uptrend continued rapidly and XDB hit a new all-time high of $ 0.528 on September 13th.

While the MACD and RSI are both bullish, a high has been reached on the external fib retracement level of 4.618, which often acts as the culmination of upside moves.

Hence, XDB is more likely to approach the top of the uptrend.

Daily XDB / USDT chart | Source: TradingView

Highlights

XDB grows parabolically.
It hit a new all-time high on September 13th.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.