The price of Hedera (HBAR) has skyrocketed, climbing roughly 30% in the last 24 hours and over 115% in the past seven days. This explosive growth is backed by strong technical indicators, with the ADX signaling a strengthening trend and the Ichimoku Cloud chart confirming bullish momentum.

HBAR’s price action suggests it could be gearing up for further gains, with resistance levels at $0.14 and $0.182 in sight. However, if the uptrend loses strength, support zones at $0.098 and $0.068 will play a crucial role in determining the next direction for HBAR.

HBAR Current Uptrend Is Strong

HBAR’s ADX has surged to 42.47 from around 17 in just one day, signaling a rapid strengthening of the ongoing trend. This sharp rise indicates that HBAR is transitioning from a weak or uncertain trend into a strong, clearly defined uptrend after the recent price surge.

Such a high ADX value reflects significant momentum behind the price movement, suggesting that the current uptrend is likely to continue in the near term.

The ADX, or Average Directional Index, measures the strength of a trend on a scale from 0 to 100 without indicating the trend’s direction.

Values below 20 signify weak trends, while values above 25 suggest a strong trend. Hedera ADX at 42.47 clearly indicates a strong uptrend, implying that buying momentum is accelerating.

Ichimoku Cloud Shows a Bullish Setup for Hedera

The Ichimoku Cloud chart for HBAR shows a sustainable uptrend, with the price breaking well above the cloud (Kumo), confirming the start of a bullish trend. The green cloud ahead suggests solid support, reinforcing the likelihood of continued upward momentum.

The current price action suggests that Go to Source to See Full Article
Author: Tiago Amaral