Expanded Flat Correction Soon or Longer Accum Phase First
Updated
There have been two bull runs so far for HBAR, each forming higher levels of support above its previous lows. It appears to be consolidating above the area of the first run; similar to how it consolidated above its original lows before the 2nd run. Trend-based fib extension also has the chart consolidating above the 1.618 fib of what could be an expanded flat correction, which I've posted about previously (linked below under related ideas).
This chart shows two theories about that:
1.) a bull run soon from a typical expanded flat correction - everything appears lined up for that, and it has broken its 3-day downtrend, but is still missing the volume spike needed for that run
2.) without that volume spike soon, there may be a 3rd and longer accumulation phase that drags out to some date prior to the 2024 btc halving
Note that the last two runs also had long and longer accum phases as well. Either is possible, and there still hasn't been a strong test of support since initially getting here, which could also be a possible trigger for the spike that is needed.
This chart shows two theories about that:
1.) a bull run soon from a typical expanded flat correction - everything appears lined up for that, and it has broken its 3-day downtrend, but is still missing the volume spike needed for that run
2.) without that volume spike soon, there may be a 3rd and longer accumulation phase that drags out to some date prior to the 2024 btc halving
Note that the last two runs also had long and longer accum phases as well. Either is possible, and there still hasn't been a strong test of support since initially getting here, which could also be a possible trigger for the spike that is needed.
Note
Note about Staking:Hedera recently added native staking, it went live officially on Nov 22nd, but actually started some days earlier.
Presnently, 29,504,615,199 HBAR are staked across the various network nodes, see:
hashscan.io/mainnet/nodes
That is just over 59% of Hedera's total supply staked on the network. Circulating supply is less than the number staked at around 24.4 billion tokens in circulation. A good bit of the staked supply is coming from non-circulating tokens, from folks like HBAR's founders, and they are foregoing staking rewards because staking is required to support the network.
Note
Short-term vs. long-term short and long update from 9-hour Heiken Ashi chart:Note
There's also an inverted HS on the chart here (plus a smaller one contained w/in the right shoulder), some quick measured targets for that below:
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