Hedera (HBAR) Price Consolidates After Massive Surge
Hedera (HBAR) price has surged more than 506% in the past 30 days, reaching a market capitalization of nearly $12 billion. However, despite the impressive rally, the upward trend appears to be losing steam. Currently, HBAR has an ADX of 24.2, indicating a weak trend, with the price declining after peaking at $0.39 on December 3.
While the coin remains above the Ichimoku Cloud, indicating bullish sentiment, the market may be entering a consolidation phase as the trend strength weakens.
HBAR Uptrend Is Losing Momentum
ivy It has experienced an impressive 506.83% gain over the past 30 days, but its upward trend appears to be losing steam. Currently, its ADX is at 24.2, showing a weakening trend.
The coin’s price peaked at $0.39 on December 3, but the price and ADX have been declining since then.
ADX, or Average Directional Index, is a technical indicator used to measure the strength of a trend, regardless of its direction. It ranges from 0 to 100, with values above 25 indicating a stronger trend and values below 20 indicating a weaker trend. HBAR On December 3, ADX price surged to around 70, signaling a strong uptrend.
However, with the ADX falling from above 30 to 24.2, this indicates that the strength of the uptrend is waning and the market may be losing confidence in the price action. This could signal a slowdown or consolidation phase in the economy.
Ichimoku Cloud Shows HBAR Still Bullish
ivy price It has been in a strong uptrend recently, reaching its highest level since November 2021. This is clear from its movement above the Ichimoku balance chart. The coin surged significantly, peaking around $0.39, with the price still above the clouds, signaling bullish momentum.
However, there are signs of waning momentum as the price begins to consolidate and approaches the upper boundary of the cloud. The small pullback seen on the chart suggests HBAR Price There may be resistance at this level.
The green area of the Ichimoku Cloud represents support, while the red area above represents potential resistance. The overall trend remains bullish as prices remain above the clouds.
However, if HBAR Price A break below the clouds would signal a possible shift to a neutral or bearish trend. In this case, the next key support may be found on the lower edge of the cloud.
HBAR Price Prediction: Can Hedera Test $0.40 in December?
Hedera hit a three-year high on December 3 but has since entered a period of consolidation. If the uptrend reverses and the price enters a downtrend, a test of the first support level at $0.27 is likely.
If this support level cannot be maintained, HBAR Price Further losses are possible, with potential support at $0.17 or even as low as $0.12.
On the other hand, if HBAR Price The uptrend has regained momentum and it may rise again to test the $0.40 resistance. A successful move above this level could lead to further gains with the next target at $0.45.
This would mean a potential surge of 45% from current levels, marking a Strong continuation of the bullish trend.
Disclaimer
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