- Hedera (HBAR) is showing strong bullish momentum, with a potential rally to $0.25, supported by rising trading volume and positive technical indicators.
- However, analysts warn that failure to sustain this momentum could lead to a sharp decline in price.
Hedera (HBAR) is gaining significant attention in the crypto world as it teeters on the edge of a potential breakout. The token, which has recently surged, is eyeing a rally that could see its price hit $0.25. However, analysts warn that failure to maintain this momentum could lead to a sharp downturn. Here’s what you need to watch as HBAR tries to capitalize on its current bullish trend.
In the past 24 hours, HBAR has shown impressive performance, climbing from a low of $0.171 to $0.1839—a 7% increase. Over the last week, the cryptocurrency has surged by 17%, positioning it as the 18th largest cryptocurrency by market cap, just behind Toncoin (TON). With its current trajectory, HBAR is expected to surpass Toncoin and challenge Shiba Inu (SHIB) for the 16th spot. This remarkable growth is supported by a surge in trading volume, which increased by 36%, amounting to $227 million in 24-hour trading.
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While HBAR’s bullish momentum is clear, key indicators point to some caution. The Directional Movement Index (DMI) shows that although the trend is gaining strength, it remains weak. The Average Directional Index (ADX), which has risen from 13.54 to 16.27, suggests that momentum is building but is not yet strong enough to sustain a full breakout. Analysts are closely monitoring whether the ADX reaches 20, which would signal a more robust trend.
Additionally, the Positive Directional Indicator (+DI) has increased from 14.19 to 22.6, indicating rising buying pressure. Meanwhile, the selling pressure appears to have decreased as the Negative Directional Indicator (-DI) drops from 17.54 to 13.24. These indicators suggest that the bulls may have the upper hand for now.
The Ichimoku Cloud chart also shows bullish signs, with HBAR trading above the Kumo (cloud) and the cloud itself shifting from green to red. This technical setup suggests that the current upward trend may hold, barring any significant bearish developments. A golden cross forming on the Exponential Moving Average (EMA) lines further supports the case for a potential rally to $0.25, with a longer-term target of $0.258.
However, analysts caution that failure to sustain this momentum could result in a sharp decline, potentially bringing HBAR back down to $0.15 or even lower.
Beyond technical analysis, Hedera’s recent partnerships and collaborations could provide additional catalysts for growth. Notably, Singapore-based payment provider Alchemy Pay has integrated HBAR into its fiat-to-crypto platform, and the Hedera Foundation’s entry into the ERC3643 Association could enhance the token’s utility in real-world asset tokenization.
As Hedera’s price continues to rise, the key question remains: Can HBAR break through this critical psychological barrier, or will market sentiment derail its rally? Time will tell.
