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Hedera

HBAR finally on the moveQuick update - broke out of falling wedge recently, held above weekly support last night. Next up is likely 8 and then 9.7 cents. Doubting we'll see a re-test at top of wedge (but possible), if any re-test at this point, more likely the top of weekly support. Meanwhile, the HBAR/BTC pairing just broke above previously weekly lows, and if it holds above 261 by close today, we should see it rise above weekly support next as well: Long-term plan is still expanded flat correction: But, I have a running theory that most of crypto wants to see double-top here, with some outliers - HBAR may be an outlier considering it never ran as much as other promising technologies during the last bull stage:
BINANCE:HBARUSDLong
by dudebruhwhoa
11
Layer 2 Shiba Inu: WHAT to expect and HOW to make profitThe Shiba Inu team announced the release of a Layer 2 network called Shibarium. Shibarium will run on top of the main Ethereum network, ensuring full interoperability and facilitating user and capital migration. The primary function of this network will be to launch and support decentralized applications. Shibarium will initially support $SHIB, $LEASH and $BONE as ecosystem tokens $BONE will become a native token of the network and will be used to pay for gas and reward validators. As a result, the team mentioned that Shibarium will implement a $SHIB token burning mechanism What are the pros? The main piece of good news is that the project, which began as a funny meme-token for amusement and community unity, is now getting a comprehensible product and application. The Shiba team decided against developing a separate non-EVM network in Rust or another language. They made the decision to join an EVM-like ecosystem. It will enable them to fight for the users as well as TVL. What are the cons? The native token is $BONE, not the main token of the ecosystem – $SHIB. The team may have concluded that it would protect them from the project failure, if something irreparable happened. In this case $SHIB would not get a hard hit. In our opinion, $SHIB will take the hit anyway. As we see in the main graphics, $SHIB and $BONE have a similar reaction. The only difference is in the percent of the price change as $BONE is a more volatile token. Thus, what is the purpose to create another token inside the ecosystem, if the main token can be recapitalized? The use of 3 tokens inside one blockchain is a weak point of the project. As we can see over time, there is no need to complicate the concept because a single native token suffices. This concept has stood the test of time and is more sustainable due to fewer risks. Another intriguing aspect is that the project team announced that Shibarium would have three main tokens, but that another token, $TREAT, would be created to stimulate users. In fact, four utility tokens will coexist on a single blockchain. It appears that the project does not require all of these tokens. If the project team recognizes the need for a mechanism to reduce the emission of $SHIB and develops one, why not use only one token within the network? Shibarium doesn't have any killer-features. According to Shibarium's announcement, the project will be similar to other L2 projects. The team selected a tried-and-true technology stack and built their own network. It's not bad, and it makes sense, but Shibarium will face competition from Arbitrum, Optimism, Sui, Aptos, Sei, Berachain, and Canto, all of which are based on ZK technologies. If you create such a mundane project, you should expect it to fail because you will be unable to attract talented developers and your network will lack projects like GMX. Users and TVL Let's be real. $SHIB is a mass-market token. Since 2021, its token customers and holders have all been users, the majority of whom simply desired a quick "to the moon" and an expensive sports car in their garage. These users have no idea what dapps are, and many of them are unable to use Metamask. Their user pattern is a "buy-hold-sell" strategy, and they do not require dapps or L2 because they do not understand what it is. The rest are advanced users who can profit from narratives and will profit from Shibarium via LP, NFT, and then leave. Shibarium will simply not have enough liquidity, TVL, or users to keep developers interested for an extended period of time. Without developers, there will be no strong products, no target users, no liquidity, and no TVL. Let’s consider Dogecoin as an example: The Dogechain TVL chart The $DOGE and $DC chart The highest TVL is shown in the chart's frame. As we can see, the greatest growth of TVL occurs when the price of $DOGE and $DC rises. It is also worth noting that each new local price increase is followed by less TVL growth on Dogecoin. Why is this so? The user base of dapps and onchain apps is losing faith in the Dogechain's success, but they don't have a choice, and others aren't just interested. We can assume that Dogechain does not attract new users and that existing users are less interested in the project. Consider the example of a good network TVL, where each token has a lower capitalization than $DOGE or $SHIB. Canto Hedera Optimism There is a chance that Shabarium will repeat the Dogechain story, with users returning only with token growth, and each return will be less impulsive. What can we do and how can we make money? Collect the $BONE and $SHIB stacks, and keep risk management in mind. The launch of Shibarium is unknown, as is what will happen to $BONE; Find projects that will be launched on Shibarium and add them to your watchlist. Find all markets where these projects are traded; Keep an eye on the announcements within the ecosystem and revise your watchlist and strategy as necessary; When you realize you can enter the market, just do it. In practice, we know that the first week following the launch will be the most profitable for those who were prepared and entered the ecosystem first; Remember the Dogechain lesson and avoid being greedy. In turn, we will monitor the evolution of the $SHIBA ecosystem and strive to provide users with as many tools as possible to profit from this narrative. We monitor market trends and try to provide traders with information that can help them receive profit so check links in our signature and join our community. Also write a comment what do you think about Shibarium and its prospects Thanks for reading!
by Samura0x
4
Expanded Flat Correction Soon or Longer Accum Phase FirstThere 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.
BINANCE:HBARUSDLong
by dudebruhwhoa
5
HBAR / BTC in a Parallel Uptrend?Quick chart here. Is HBAR / BTC in a parallel uptrend? We still need 3 touches at top and bottom to confirm this. If this is correct, we're at the bottom of the trend now and should see another trip to the top. Should we do that and stop at the top, expect to see a third trip to the bottom as well. MACD and RSI are also pointing to a reversal here, as confluence. An alternative possibility, if we hold channel bottom and then break channel top, this could turn into a giant inverted head/shoulders and become much more bullish sooner.
Long
by dudebruhwhoa
1
Signs of an Impending Move for Hedera vs. BitcoinAround June 19th, we broke out of a daily falling wedge (shown above), and again around end of July we broke out of a weekly falling wedge (not shown). Since then Hedera has started a pattern of consolidation within a very tight range, just above support, and below resistance. Measured wedge targets take us right at previous ATH (candle close), and a more liberal 2X target takes us above our all-time highest wick. Each of these provide confluence that Hedera is gearing up for a move. So, look for us to break out of the small range that we've been in for the last several weeks. And, even if that becomes a break below the consolidation range before it breaks above, it could still act as a fulcrum for pivoting to a significant move up. What we don't want to see is a loss of support (green box) that holds.
Long
by dudebruhwhoa
1
HBAR Ready to Rise for the 3rd TimeHBAR broke out of a falling wedge on its weekly chart a couple of months ago. It has since held above weekly support, and well above the wedge. If there is another dip prior to continuation, I could see it test the top of the wedge, near the bottom of support. However, if we lose support and close below the top of the wedge, this idea becomes invalidated. Measured targets / fib levels: -- TP 1 - 599-605 sats -- TP 2 - 734-744 sats Some confluence to support this idea: -- Chart VWAP, with the full chart in view, wants average price to be near the top of the resistance area shown. -- Zooming in to view the falling wedge moves the chart VWAP to line up with TP 1 as well (see chart snapshot below). -- TP 1 lines up closely with our 0.618 fib (within 6 sats), where fibs are based on the previous move from trough to peak. -- TP 2 also lines up closely with our 0.786 fib (within 10 sats) -- RSI has bottomed out, slightly higher than our previous bottom, and it shows similar movement to the last two moves from bottom, theorizing that each in a series of 3 (assuming we've begun our 3rd move) has a consolidation period that begins closer to its initial impulse, and consolidates for a longer period each time. -- Stoch RSI has also bottomed out and then reached top, also showing similar movement, and also theorizing that each in a series of 3 (again, assuming our 3rd move has begun) has a longer consolidation period between peak 1 and 2. Zoomed in view of falling wedge and Chart VWAP lining up with TP 1: Thanks for hearing my thoughts, please leave your own in the comments below. If this move does play out, I think it'll become highly likely that we see a new ATH before seeing any long-term bearish movement again. There is a linked idea for the HBAR/USD pair below under Link to Related Ideas, or here: -dudebruh
Long
by dudebruhwhoa
3