Hedera (HBAR) has experienced a 6% increase in the past 24 hours as it aims to reach a $8 billion market cap. Its trading volume has risen by 19% to around $176 million, indicating revived interest.

Various indicators present a mixed picture. While the BBTrend remains bearish, the RSI and EMA lines imply an increase in bullish momentum. There is a possibility of a golden cross formation soon, and HBAR is nearing crucial resistance levels. Its next move will determine whether a breakout or a pullback is on the horizon.

Hedera's BBTrend indicator remains negative, with a current reading of -1.56 and has stayed in the negative zone since May 1. Although there was a significant bearish reading recently, there has been a slight bounce back indicating a potential easing of selling pressure.

The RSI for Hedera has surged to 66.2, indicating a strong momentum shift towards bullish pressure. This suggests that buyers are stepping in aggressively, potentially leading to a short-term breakout if the trend continues.

The EMA lines for Hedera are converging, hinting at a possible golden cross soon, which is usually seen as a bullish signal, suggesting a strengthening upward momentum. If the price rose above the resistance levels at $0.191 and $0.199, it could target $0.215 and $0.258. Failure to break through the resistance zone may lead to a pullback towards support levels at $0.175, with further declines possible if selling pressure intensifies.