HBAR Price Rises 5% as Volume Exceeds $2 Billion
The post HBAR Price Rises 5% as Volume Exceeds $2 Billion appeared on BitcoinEthereumNews.com.
Hedera (HBAR) has surged over 5% in the past 24 hours and 37% in the last week, with trading volume exceeding $2 billion in the past day. The rally is driven by bullish technical indicators, including a rising ADX, positive Ichimoku Cloud signals, and favorable EMA alignments. HBAR is now nearing key resistance at $0.40. A breakout above this level would mark its highest price since November 2021. However, traders should keep an eye on the $0.33 support level, which could become crucial if a reversal occurs. Hedera DMI Confirms the Uptrend Remains Strong The DMI (Directional Movement Index) chart for Hedera shows a sharp rise in the ADX (Average Directional Index), currently at 45.8, up from 17 just two days ago when the current uptrend began. The ADX measures the strength of a trend on a scale from 0 to 100, with values above 25 indicating a strong trend and values above 40 signaling an even stronger trend. The recent surge in the ADX confirms that HBAR is experiencing powerful and sustained upward momentum. HBAR DMI. Source: TradingView The +DI (positive directional index) has slightly decreased to 28.6 from 35.6 a day ago, while the -DI (negative directional index) has risen marginally to 7.11 from 6.11. This indicates that although buying pressure has slightly weakened, it still far outweighs selling pressure, reflecting continued bullish sentiment. The widening gap between the ADX and the directional indices suggests that the uptrend remains strong. If buying pressure stabilizes or strengthens, Hedera price could see further increases in the short term. However, traders should monitor the slight decrease in +DI for any signs of waning momentum. HBAR Ichimoku Cloud Indicates Bullish Setup Forming The Ichimoku Cloud chart for HBAR shows a clear bullish trend. The price is trading well above the cloud, which…
Filed under: News - @ January 18, 2025 1:25 am