Hedera (HBAR) Surges 30%, Faces Key Resistance Level
Hedera (HBAR) has soared more than 6% in the past 24 hours, with its market cap reaching $100.6 billion. HBAR has been priced at nearly 30% over the past week, becoming one of the largest altcoins on the market.
This powerful rally pushes key technical indicators into bullish territory, with BBTREND reaching its highest level in a month, while the Ichimoku cloud structure shows continued upward momentum. If HBAR maintains this strength, it may test critical resistance levels soon and potentially exceed $0.35 in March.
Hedera Bbtrend is above the highest level in over a month
Hedera Bbtrend is currently at 18.15 and has maintained a positive stance all day. Earlier today, it peaked at 21.3, marking its highest level since late January.
Although it has pulled back slightly from that peak, the indicator remains higher, indicating that the recent uptrend is still intact.
This continued enthusiasm in BBTrend shows HBAR’s price action powerful directional poweraligned with broader market trends.
bbtrend, or Brynn Band Trends are a technical indicator that measures trend strength based on the relationship between price and Bollinger’s band. When Bbtrend is positive, this indicates that the price is trading on the upper part of the Bollinger band, which usually indicates a sustained bullish trend.
As far as HBAR is concerned, the current level is 18.15 (and below its early peak of 21.3) still reflects a strong upward bias. If this trend keeps rising, it may indicate Continue to the momentum of HBARbut the slight pullback of 21.3 indicates that the buying pressure is somewhat moderate.
Whether this leads to a merger or further upside depends on the subsequent and broader emotional shifts in the market.
Hbar Ichimoku Cloud shows bullish settings
According to Ichimoku Cloud Hedera is currently in a bullish structure. The price trend is higher than the blue conversion line and the red baseline, indicating a short-term bullish momentum.
The tilt of green lead span A is sloping upwards, while the orange lead span B remains relatively stable, forming an elevated cloud indicating support for growth. Furthermore, the lag span (green line) is higher than the price for 26 periods, thereby enhancing the intensity of the ongoing trend.
However, prices are consolidating above the red baseline, which marks a potential decision point between continuation or short-term pullbacks.
Ichimoku Cloud provides a multifaceted view of trend directions and key support areas. When the price is higher than on the cloud, it marks a major bullish trend, and the movement below will indicate a shift in sentiment.
The current position on both the blue conversion line and the red baseline indicates that bullish momentum is complete. If the price maintains this structure, more room for upwards can be expected, especially as the green lead span A continues to rise.
However, the drop below the red baseline Will indicate a weakening momentummay lead to the support area of the test cloud. The thickness of the cloud ahead indicates a medium support area, which means any pullback will face resistance before shifting the overall trend.
Hedera (HBAR) May Be Over $0.35 in March
The Hedera EMA line indicates a bullish trend, and the golden cross formed yesterday, which will be possible soon. When the shorter EMA crosses over long term EMA, a golden cross occurs, thereby upward signal upward signal.
If this setup continues, HBAR can test the next resistance of $0.28. Breakthroughs above this level can open the road toward a $0.322 transfer.
If the buying pressure increases, and Hedera prices resume strong uptrend in previous monthsit may further test $0.35 and $0.37. In the extended rally, HBAR may even rise $0.40 for the first time since November 2021, marking a significant recovery.
On the other hand, if the upward trend fails to be achieved, HBAR may face retesting $0.24 support level.
Losing this support will indicate a weak structure, which could lead to a drop to $0.213.
If bearish momentum increases and purchase interest will not return, Hedera can drop further To $0.177, test deeper support zones.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
