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Hedera (HBAR) is up more than 5% in the past 24 hours and 37% in the past week, with trading volume surpassing $2 billion in the past day. This rally is driven by bullish technical indicators, including a rise in ADX, positive signals from Ichimoku Cloud, and a favorable EMA alignment.
HBAR is currently approaching a key resistance level at $0.40. A break above this level would mark the highest price since November 2021. However, traders should pay attention to the $0.33 support level, which could become important if a reversal occurs afternoon.
Hedera’s DMI Confirms Strong Uptrend
The DMI (Directional Momentum Index) chart for Hedera shows a sudden increase in the ADX (Average Directional Momentum Index), currently at 45.8, up from 17 just two days ago during the current uptrend begin.
ADX measures trend strength on a scale of 0 to 100, with values above 25 indicating a strong trend and above 40 signaling an even stronger trend. The recent rise of ADX confirms that HBAR is experiencing strong and sustained momentum.
+DI (positive direction index) fell slightly to 28.6 from 35.6 yesterday, while -DI (negative direction index) increased slightly to 7.11 from 6.11. This shows that although the buying pressure has weakened slightly, it is still much greater than the selling pressure, reflecting continued optimism.
The expansion between ADX and directional indicators shows that the uptrend remains strong. If buying pressure maintains or increases, Hedera prices may continue to rise in the short term. However, traders should monitor +DI’s slight decline for any signs of weakening bullish momentum.
Ichimoku Cloud HBAR Signals a Bullish Structure Is Forming
The Ichimoku Cloud chart for HBAR shows a clear bullish trend. The price is trading well above the cloud, which is considered a strong bullish signal.
The Tenkan-sen indicator (blue line) is above Kijun-sen (red line), confirming further upward momentum. The Lagging Span (green line) is also above the price, also confirming the strength of the current trend.
The cloud ahead is expanding in blue, signaling a continuation of the near-term bullish momentum. If HBAR price maintains its position above Tenkan-sen and Kijun-sen, it could aim for higher resistance levels.
However, if the price corrects, Kijun-sen and the top of the cloud could be strong support levels. A break below these levels could indicate weakening momentum, but for now bullish signals still prevail.
HBAR Price Prediction: Highest Since 2021?
HBAR’s EMAs remain very bullish, with the short-term EMAs above the long-term ones and maintaining a significant gap between them. This arrangement reflects strong bullish momentum, suggesting that the current uptrend could continue. If buying pressure is maintained, HBAR could test resistance at $0.40.
A break above this level would mark the highest price for HBAR since November 2021.
On the downside, if the momentum reverses, support at $0.33 will be an important level to watch. A break below this support could result in a correction towards $0.29, with a possible further decline that could take Hedera price to $0.26 if a strong downtrend develops.
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