Hedera (HBAR) price has experienced a significant surge, reaching its highest levels in three years in December and aiming to reclaim its $12 billion market cap. Over the past 30 days, HBAR has seen a remarkable 121% increase driven by strong bullish momentum and key technical patterns such as the golden cross. Indicators like the ADX and Ichimoku Cloud suggest a strengthening uptrend, with buyers maintaining control and the potential for further gains.
Currently, the HBAR Average Directional Index (ADX) stands at 29.35, showing a substantial rise from 15 just two days ago. This sharp increase signifies a strengthening trend momentum, indicating that the current uptrend is gaining traction. The rise in ADX suggests that the recent bullish action in HBAR price is supported by a solid trend, with buyers firmly in control of the market.
The Ichimoku Cloud chart for Hedera also paints a bullish scenario, with the price breaking above the cloud and showing positive momentum. The blue conversion line remains above the red baseline, confirming the bullish sentiment and indicating that buyers are in control. Additionally, the lagging span is positioned above both the price and the cloud, reinforcing the bullish outlook. The future cloud also projects upward momentum, suggesting that the Hedera bullish trend could continue.
In terms of price prediction, HBAR recently experienced a golden cross on December 24, signaling a potential bullish trend reversal. The next significant resistance lies at $0.33, with the possibility of further gains if this level is breached. However, if the uptrend loses momentum, HBAR price may face a pullback to test the support level at $0.27. Failure to hold this support could lead to a decline to $0.23.
It is important to note that the information provided in this article is for informational purposes only and should not be considered financial or investment advice. Market conditions are subject to change, so it is crucial to conduct your own research and seek professional advice before making any financial decisions. BeInCrypto is committed to accurate and unbiased reporting.
