Hedera (HBAR) Price Aims for $12 Billion Market Cap as Momentum Builds

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As a seasoned crypto investor with battle-hardened nerves and a portfolio that has weathered multiple market cycles, I must admit I find myself quite intrigued by Hedera’s current uptrend. The 121% surge over the past month is nothing short of impressive, especially considering the often turbulent nature of the crypto markets.

Hedera’s (HBAR) price has soared dramatically, hitting its peak in three years during December and striving to regain a market capitalization of around $12 billion.

Over the past 30 days, HBAR has risen an impressive 121%, driven by strong bullish momentum and key technical patterns like the recent golden cross. Indicators such as the ADX and Ichimoku Cloud suggest a strengthening uptrend, with buyers maintaining control and the potential for further gains.

Hedera Current Uptrend is Getting Stronger

The HBAR Average Directional Index (ADX), at present, is 29.35 – a notable jump from 15 recorded only two days prior. This steep rise indicates a robust pickup in trend momentum, suggesting that the ongoing upward trend is growing more powerful.

The increase in ADX suggests that the recent upward momentum in HBAR price is backed by a robust trend, indicating strong buyer dominance in the market.

The ADX (Average Directional Movement Index) is a commonly applied trend strength indicator that quantifies the force of a market trend without specifying its direction, ranging from 0 to 100. A value below 20 indicates a weak or non-existent trend, while values exceeding 25 suggest a strong trend.

Given that HBAR’s ADX currently stands at 29.35, this suggests a robust and persistent increase in its price. This could potentially lead to further growth in the near future.

Ichimoku Cloud Shows a Bullish Scenario for Hedera

For Hedera, the Ichimoku Kinko Hyo (Ichimoku Cloud) indicates a growing bullish movement. The price has surpassed the cloud’s boundaries (the green and red zones), implying a strong, upward thrust.

The graph shows the blue trendline (Tenkan-sen) consistently hovering above the red line (Kijun-sen), reinforcing a positive market outlook. This position suggests that buyers are dominating the current market dynamics, and if the price continues to remain above the “cloud,” an upward trajectory is likely to persist.

Furthermore, the trailing line (in green) sits above both the price and the cloud, supporting a positive market outlook. The upcoming green cloud also indicates potential upward movement, as the top green boundary (A) is higher than the bottom red boundary (B), implying that the bullish trend for Hedera may continue.

The Ichimoku indicators clearly suggest a robust trend, meaning that unless we see a substantial change of direction, the value of HBAR could maintain its rising course in the near future.

HBAR Price Prediction: Will HBAR Test $0.37 Soon?

Just yesterday, HBAR displayed a ‘golden cross’ on the 24th of December. This means that the short-term moving average surpassed the long-term moving average, which could be an indicator of a possible reversal from a bearish to a bullish trend.

This well-known bullish structure suggests a strengthening uptrend, with the next major barrier being located around $0.33. Should this barrier be surpassed, the HBAR price might gather additional momentum and potentially reach towards $0.378.

But should the upward trend weaken, there’s a possibility that the Hedera price could experience a reversal, potentially dropping back to test the support at around $0.27.

If this support doesn’t sustain, it might lead to a drop in price down to $0.23, potentially undoing most of the recent progress made.

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2024-12-25 21:33