Hedera’s Hilarious Hangover: Can HBAR Bounce Back After a 40% Hangover?

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Hedera’s HBAR token is attempting to shake off a 40% hangover in the last 30 days. While the downtrend remains as stubborn as a mule, indicators suggest that the party might be easing up.

The Ichimoku Cloud and EMA lines are still singing the blues, but key resistance levels could trigger a breakout if the buying crowd decides to get their groove back on. If HBAR can reclaim some lost ground, it might test $0.248 soon, while further downside remains possible if support at $0.21 is lost.

HBAR’s DMI Suggests the Downtrend Could Be Chilling Out

HBAR’s DMI chart shows its ADX has risen to 19.3 from 14.2 in the last two days, indicating a strengthening trend. The ADX (Average Directional Index) measures trend strength on a scale from 0 to 100, with values below 20 signaling a weak trend and above 25 indicating a stronger one.

Since ADX is still below 20 but rising, it suggests that Hedera’s downtrend could be cooling off, though it hasn’t confirmed a strong directional move yet. 🍹

Looking at the directional indicators, +DI has risen to 13.9 from 10.9 after falling from 22.4 three days ago, while -DI has declined to 19.4 from 22.3. This suggests that selling pressure is easing while buying momentum is slowly recovering. However, with -DI still above +DI, the downtrend remains as cool as a cucumber. 🥒

Hedera’s Ichimoku Cloud Shows an Ongoing Bearish Setup

The Ichimoku Cloud for HBAR shows the price currently trading below the cloud, indicating a bearish trend. The cloud itself is red and projected forward, signaling potential resistance ahead. The baseline (Kijun-sen) and conversion line (Tenkan-sen) are both flat, suggesting weak momentum. For a trend reversal, the price would need to break above the cloud, which currently sits around $0.23.

The lagging span (Chikou Span) is still below the price action, confirming that bearish momentum is as strong as a grizzly bear. However, a slight price rebound suggests an attempt to regain strength. 💪

If Hedera breaks above the Tenkan-sen and Kijun-sen, it could challenge the lower edge of the cloud. A rejection at this level could lead to further downside, while a successful breakout above the cloud would be a strong bullish signal. 🐂

HBAR Price Prediction: Will Hedera Fall Below $0.2?

Hedera price chart shows its short-term EMA lines trading below the long-term ones, confirming a bearish trend. If the downtrend continues, HBAR could test the $0.21 support level, and losing that could push it further down to $0.179. 📉

Selling pressure remains dominant, making these levels critical for bulls to defend. But hey, who knows? Maybe HBAR will pull a rabbit out of its hat and surprise us all. 🐇

On the upside, if HBAR price can reverse its trend, the next resistance to watch is $0.248. A breakout above this level could strengthen bullish momentum, potentially sending the price toward $0.32, its highest level since late January. 🚀

However, for this to happen, HBAR needs a strong shift in momentum and increased buying pressure. Until then, it’s just another day in the life of a cryptocurrency. 💸

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2025-02-18 05:27