Hedera (HBAR) has seen a rise of over 6% in the past 24 hours, indicating a resurgence of strength based on various technical indicators. The DMI signals that buyers are gaining control, and the Ichimoku Cloud displays a clear bullish pattern.
A potential golden cross on the EMA lines might enhance the upward trend, potentially breaking through $0.178 and even reaching $0.20. With improving sentiment and resistance levels on the horizon, HBAR is getting set for a significant move following a period of consolidation.
Hedera Signals a Possible Shift as Buyers Regain Momentum
The DMI for Hedera reveals early indications of increasing momentum, reflected by the rising ADX, now at 16.27 compared to 13.54 two days ago.
The ADX measures trend strength, with values below 20 suggesting a weak or sideways market and readings above 25 indicating a robust and continuing trend. While HBAR isn't yet strongly trending with the ADX still below 20, the recent uptick hints at a potential change in momentum.
Hedera Keeps Bullish Momentum with a Solid Trend Structure
Hedera's Ichimoku Cloud chart displays strong bullish indicators, with price action comfortably above the cloud, signaling an upward trend. The transition from a red to green cloud indicates a shift from bearish to bullish sentiment, typically suggesting that the current trend could persist without a major reversal.
The Tenkan-sen positioned above the Kijun-sen supports a short-term bullish bias, and the upward-sloping future cloud indicates ongoing strength. Furthermore, the Chikou Span above the price candles and cloud further confirms a bullish alignment of all Ichimoku elements.
Hedera Aims for a $0.20 Breakout as a Golden Cross Approaches
The convergence of Hedera's EMA lines hints at a potential golden cross in the making, typically a bullish signal. This development could enable HBAR to surpass the $0.178 resistance, potentially reaching $0.20. A full return of bullish momentum might drive the price towards $0.258, its highest level since early March.
If bullish momentum falters, support at $0.153 could be retested. A breach below this level could weaken the structure, leading to further losses, with $0.124 as the next significant support level.