Major Challenge Ahead for Hedera (HBAR): Can It Continue Climbing Before the Bulls Slow Down?

Hedera (HBAR) is currently experiencing significant market activity, with a price increase from a recent low of $0.137 to around $0.1452. As trading volume has spiked, traders are anticipating whether HBAR can maintain this upward momentum. Analysts are monitoring critical resistance levels and potential corrections.

Key Takeaways

HBAR’s price rose from $0.137 to $0.1442, with a market cap of $6.12 billion.
Daily trading volume surged by 209.6%, reaching $532.66 million.
Key resistance is at $0.1450, while a drop below $0.1434 could indicate a downward trend.
The MACD and other indicators suggest cautious optimism for further gains.

Current Performance Overview of Hedera (HBAR)

In the early hours of trading, HBAR was valued at a low of $0.137. Following bullish momentum, the price has surged to a high of $0.155. This strong bullish trend may lead to further increases, testing the asset's recent highs.

At the time of writing, Hedera is trading at approximately $0.1442, with a total market capitalization of $6.12 billion. Notably, the daily trading volume has skyrocketed by over 209.6%, amounting to $532.66 million. Additionally, there has been a liquidation of $603.68K worth of Hedera over the past 24 hours.

Prospects for a Bullish Shift in Hedera

Should HBAR continue to rise, it will likely encounter notable resistance near the $0.1450 mark. If the price breaks through this level, it could lead to an extended upside correction, potentially pushing the price up to $0.1458. On the other hand, if the bullish activity wanes, HBAR may quickly drop below the support level of $0.1434. This could trigger a more significant decline, resulting in a correction that might see the price sink to $0.1425 or lower.

HBAR Chart (Source: TradingView)

The Moving Average Convergence Divergence (MACD) line is currently above the zero line, with the signal line positioned below it. This suggests a shift in momentum toward an early bullish trend, as Hedera moves away from its recent weakness. Additionally, the Chaikin Money Flow (CMF) for Hedera stands at 0.11, which signals moderate positive inflow—indicative of healthy buying pressure.

HBAR’s daily Relative Strength Index (RSI) is around 57.28, reflecting mild bullish momentum. This figure is still well below the overbought threshold of 70, suggesting there is sufficient room for additional upward movement. The Bull Bear Power (BBP) reading is at 0.00842, indicating a neutral position with neither bulls nor bears dominating the market. This represents a cautious zone where upcoming market movements could sway the momentum in either direction.

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