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Hshare (HSR) fundamentals overview

The recent dip in crypto prices has made many people cautious about the altcoins that they invest in. If you are looking to HODL an altcoin that has some solid fundamentals to it, then you should consider Hshare. Hshare is one of those cryptocurrencies that take pride in being a bridge between blockchain and the blockless (DAG) technologies. It also has a number of other features that make it a relatively good buy in the long-run.

For instance, it is designed for privacy, which means your information will never be exposed on the public blockchain. On top of that, Hshare (HSR) is quantum resistant, which means it can’t be hacked by a quantum computer, as is the case with blockchain based coins. But one of its most important features of this platform is that it allows for the creation of side-chains, which makes it highly scalable.

However, if you are looking for a short-term entry, then it would make sense to do a technical analysis to determine precise entry and exit point.

Technical analysis HSR/BTC

One of the most effective technical trading indicators is the RSI. On the day chart, Hshare (HSR) has an RSI reading of 40, which is an indication of increasing bullish momentum. This is easily confirmed by the volumes chart, which for the last two days indicates an increased interest in this crypto.

Hshare is also trending upwards towards the 20-day moving average. If it manages to break above the 20-day MA in the next 6 hours, which is at around the 0.000700 price level, then the short term uptrend will be confirmed. A long entry at this point would be ideal, with 0.00153 as an exit target, which is a major resistance point on the 100-day moving average.

From a longer time perspective, the market is still bearish, but bear power is dropping. The longer term RSI reading has flattened at 53, down from 57 a few weeks ago. This shows that the bulls have retreated from the market, but there are not enough bears to drive the market down at an accelerated pace. The longer term bearish volumes are declining too.

The upper and longer Bollinger bands seem to be converging around the 20-day moving average, which is indicative of an impending breakout, with the 0.000219 price level acting as solid support. To go long, the price needs to close above the 20-day moving average at 0.001397. This will be a confirmation of enough bullish momentum, with a long-term target of 0.00900. If price fails to close above this price level within the week, a short entry would be ideal. That’s because it would mean that there is not enough bull strength in the market to drive the price higher.

Verdict

In the short-term, there is a good opportunity to profit from a long position with a target of 0.0015, and a stop loss at around the 0.0005 area. A break below this price would signal a sustained downtrend. In the medium term, Hshare (HSR) would be better to await a signal confirmation before buying. That’s because the bullish momentum is still weak, which means a long entry carries a relatively high amount of risk.


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