Hedera (HBAR) price is up 11% in the last 24 hours, with its market cap reclaiming the $13 billion threshold and trading volume surging by 78% to $745 million. Technical indicators suggest that HBAR is in the early stages of a potential uptrend, as its ADX has risen to 13.97, signaling improving momentum.
The Ichimoku Cloud chart supports this bullish outlook, with a breakout above the cloud and upward-trending Tenkan-sen and Kijun-sen lines. If HBAR breaks the resistance at $0.374, it could rally toward $0.40, though a reversal may test key supports at $0.31 and $0.296.
HBAR ADX Indicates Current Trend Lacks Strength
Hedera ADX (Average Directional Index) currently stands at 13.97, up from 12.7 yesterday, signaling a potential shift from a downtrend to an emerging uptrend.
The ADX is a technical indicator used to measure the strength of a trend, regardless of its direction. Values below 20 indicate a weak or nonexistent trend, while values above 25 suggest a strong trend. Increasing values confirm the trend’s growing strength.
At 13.97, HBAR ADX remains below the 20 threshold, indicating that the new uptrend is still in its early stages and lacks significant strength.
However, the rise from yesterday’s low suggests that momentum is beginning to build. If the ADX continues to climb, it could confirm the development of a stronger uptrend, potentially driving further price gains for HBAR.
Hedera Ichimoku Cloud Shows A Bullish Setup
The Ichimoku Cloud chart for HBAR shows a bullish breakout above the cloud, indicating that the price has moved into a more favorable zone.
The green cloud ahead (Senkou Span A above Senkou Span B) suggests potentia
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Author: Tiago Amaral
