Hedera (HBAR) Price Soars Over 180%, but Can the Rally Last?
The price of Hedera (HBAR) has surged 182.56% over the past 30 days, but recent indicators suggest that its upward trend is losing steam. ADX has fallen sharply, indicating that although the uptrend remains intact, the trend strength has weakened significantly.
The Ichimoku Cloud and EMA lines also indicate potential risks, with HBAR approaching key support and a possible death cross formation.
HBAR’s uptrend is rapidly losing steam
ivy ADX has fallen to 26.2 from over 60 points three days ago, indicating a significant decrease in trend strength. ADX, or Average Directional Index, measures the strength of a trend, regardless of direction, on a scale from 0 to 100. Values above 25 indicate a strong trend, while values below 20 indicate a weak or no trend.
The sharp decline reflects that although HBAR is still in an upward trend, its momentum has significantly weakened.
With ADX hovering above 25, HBAR Current Uptrend Still intact, but nowhere near as strong as when ADX levels were higher. This suggests a consolidation phase may be in store as the bullish momentum slows. For the uptrend to regain strength, ADX needs to rise again on the back of increased buying pressure.
However, if ADX continues to fall, it could signal further weakening of the trend, increasing the risk of a reversal.
Ichimoku Cloud Display Trend Is Reversing
Ichimoku Cloud Atlas ivy It shows that the price is currently located near Kijun-Sen (orange line) and Tenkan-Sen (blue line), indicating that it is entering a consolidation phase after the recent rise.
Prices are no longer above the clouds, suggesting the trend may soon reverse.
if HBAR If it holds above the Kijun-Sen and rebounds, the uptrend may resume, confirming the bullish sentiment.
Conversely, if prices continue to fall below the clouds, it could signal a trend reversal and increased selling pressure could push further declines.
HBAR Price Forecast: Downtrend May Bring Strong Correction
ivy The EMA lines indicate that the current uptrend may reverse soon, as the shortest EMA line is close to a crossover below the longer-term line.
This pattern is known as a death cross and is a strong bearish signal that can trigger increased selling pressure. If the death cross appears, ivy price A test of the $0.117 support is likely, and if it fails to break this level, the price may fall further to $0.052.
On the other hand, if HBAR Price If the bullish momentum resumes and the death cross is avoided, a test of the key resistance levels at $0.158 and $0.17 is likely. A break above these levels could push the price towards $0.2, representing a potential upside of 48%.
Disclaimer
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