💥 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
This week, Shanghai hot rolled coil inventory decreased, while Lecong hot rolled coil inventory slightly accumulated.
This week, Shanghai hot rolled coil inventory is 332,800 tons, down 18,900 tons from the previous week, a decrease of 5.37%; year-over-year comparison based on the Gregorian calendar shows a decrease of 4.67%, while the lunar calendar comparison shows an increase of 31.59%. Lecong hot rolled coil inventory is 688,500 tons, up 12,700 tons from last week, an increase of 1.88%; year-over-year comparison based on the Gregorian calendar shows a decrease of 21.76%, while the lunar calendar comparison shows an increase of 16.75%. (Shanghai Nonferrous Metals Network)