Hedera (HBAR) Price Achieves Major Milestone in Historic 700% Rally

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As a seasoned crypto investor who’s been through the bull and bear cycles, I must say the recent surge of HBAR has caught my attention. With over three decades of market experience under my belt, I can safely say that this 721% surge in just 30 days is nothing short of remarkable. It’s like watching a rocket take off!

Hedera’s (HBAR) price has reached its peak since 2021, demonstrating impressive momentum within the crypto market. In just the last month, the coin has experienced a staggering increase of 721%, outshining many other significant cryptocurrencies in terms of growth.

Currently standing at a market capitalization of $13.44 billion, HBAR now outranks prominent projects such as SUI, Uniswap, and Litecoin. Various technical indicators point towards robust bullish trends, yet certain measurements seem to predict possible consolidation in the near future.

HBAR Current Uptrend Is Still Strong

The HBAR Directional Movement Index (DMI) indicates a highly dominant trend, as its Average Directional Index (ADX) stands at a substantial 72.

The ADX (Average Directional Movement Index) quantifies the strength of a trend, regardless if it’s upward or downward. A value greater than 25 suggests a robust trend, while a reading above 50 signals an exceptionally strong trend. At 72, the ADX for HBAR indicates an extraordinarily powerful trend momentum in the market.

At a reading of 42.6, the Positive Directional Indicator (D+) has dropped from 55 but remains significant, combined with an extremely low Negative Directional Indicator (D-) of 1.2. This suggests robust bullish trends continue to drive the price of HBAR.

A considerable gap between strong (D+) and weak (D-) indicators indicates that the upward trend is likely to persist. Yet, the decrease in D+ points to a potential lessening of buying interest. Nevertheless, if D+ continues to stay markedly above D-, the overall bullish pattern remains unaltered.

Ichimoku Cloud Shows Hedera Price Could Be Overextended

For Hedera, the Ichimoku Cloud chart exhibits robust bullish energy, as the current price is significantly higher than not only the baseline (kijun-sen), but also the conversion line (tenkan-sen).

The significant space between these lines signifies an increasing speed moving upwards, even if the prices seem to extend beyond their usual range relative to the base line.

The shape of the clouds (cloud formations) indicates a positive outlook, as they are forming upward, implying that there will likely be continued upward momentum or support in the near future.

In simpler terms, the current price of Hedera is quite far from its average (the ‘cloud’), which might mean it’s overvalued temporarily. This could lead to a dip in price, possibly causing the price to rebound towards its baseline or the top of the cloud during any period of market stability, where these levels may act as potential support points.

HBAR Price Prediction: Can It Retreace to $0.27?

The price of Hedera has displayed remarkable strength, surging by a staggering 721% over the past month and reaching heights not witnessed since the year 2021. Furthermore, its Exponential Moving Averages (EMAs) are perfectly aligned for a bullish trend, with the shorter timeframes consistently sitting above the longer ones. This alignment indicates that the positive momentum is likely to persist.

If the price surpasses the $0.39 barrier, it might lead to additional progression towards the psychological milestones of $0.45 and $0.50, implying a possible increase of 42%.

In simpler terms, the prolonged rise in HBAR’s price has moved it noticeably beyond important moving averages and the Ichimoku Cloud, which could suggest that the price might be overextended at this point.

Potential rebound points might appear around $0.27 and $0.19 as the market experiences corrections. If selling activity increases significantly, $0.12 could function as a crucial foundation for price stabilization.

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2024-12-03 21:46