HBAR Price Climbs 11%, Golden Cross Could Push Price Higher
The price of Hedera (HBAR) has increased by 11% in the past 24 hours, with its market capitalization regaining the $13 billion threshold, and trading volume increased by 78% to $745 million. Technical indicators suggest that HBAR is in the early stages of a potential uptrend as its ADX has risen to 13.97, which is a sign of increasing momentum.
The Ichimoku Cloud chart supports this bullish outlook, with a breakout above the cloud and trending Tenkan-Sen and Kijun-Sen Lines. If HBAR breaks resistance at $0.374, a move to $0.40 is possible, although a reversal could test key supports at $0.31 and $0.296.
HBAR ADX indicates that the current trend lacks strength
ivy The ADX (Average Directional Index) is currently at 13.97, up from 12.7 yesterday, indicating a potential shift from a decline to an emerging uptrend.
ADX is a technical indicator used to measure the strength of a trend, regardless of its direction. Values below 20 indicate a trend or non-existent trend, while values above 25 indicate a strong trend. Added value confirms the trend’s growth.
At 13.97, HBAR ADX remains below the 20 threshold, indicating that the new uptrend is still in its early stages and lacks significant strength.
However, the rise from yesterday’s lows suggests that momentum is starting to build. If ADX continues to climb, it could confirm the development of a stronger uptrend, potentially driving further price gains for HBAR.
Hedera Ichimoku Cloud Shows Bullish Setup
Ichimoku Cloud Chart HBAR A bullish breakout is shown above the cloud, indicating that the price has moved into a more favorable area.
The green cloud ahead (senkou across senkou span b) indicates potential support at the time of answer, while tenkan-sen (blue line) and kijun-sen (red line) are trending higher, signaling short-term momentum vs. Consistent signals. Broader bullish sentiment.
and HBAR price Clearing clouds and two leading indicators showing bullish consensus, ivy Looks poised to maintain its upward trend.
However, if the price reverses and slopes back into the clouds, it could signal consolidation or weakening momentum. The green cloud below could serve as support, keeping the broader bullish structure intact.
HBAR Price Forecast: Potential Increase of 14%
The next significant resistance for HBAR is near $0.374, with the EMA lines suggesting a golden cross may soon form. If confirmed, this bullish crossover could ignite a strong upward move that could break the resistance and push towards $0.374 Hedera price Priced at $0.40.
Such a move would represent 14.2% upside, signaling Strength in an ongoing uptrend.
Conversely, if the current trend reverses, immediate support at $0.31 may come into play. A failure below this level could lead to further declines with the next support at $0.296, which, if failed, could lead to a drop to $0.25.
Disclaimer
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