Convergence

Cardano

Major

Hedera

Cloud

<ul class="wp-block-list">
 <li>HBAR gains 216%, and momentum weakens with ADX dropping.</li>
 <li>Bullish signals include EMA crossover and Fibonacci breakout trends.</li>
</ul>
Hedera’s native token, HBAR, has captured traders’ attention with a sharp upward trajectory over the past month, gaining 216% to reach $0.171 six days ago—a seven-month high. Currently trading at $0.1525, the token is up 10.22% in the last 24 hours but remains 73% below its all-time high. Despite the bullish sentiment, technical indicators suggest a potential weakening of momentum.
The Average Directional Index (ADX), a key measure of trend strength, has dropped sharply from over 60 three days ago to 26.2. While this indicates the uptrend is still intact, it suggests a significant decline in momentum.&nbsp;
Meanwhile, on a weekly chart, HBAR has seen three consecutive <a href="https://coinmarketcap.com/currencies/hedera/" target="_blank" rel="noopener noreferrer nofollow">bullish</a> candles, driving a <a href="https://thenewscrypto.com/is-cardano-prepping-for-bull-run-as-price-affirms-hold-above-1/" target="_blank" rel="noopener noreferrer nofollow">recovery</a> from $0.041 to its current price. The token has also surpassed the 50% Fibonacci retracement level, breaking a long-standing resistance trendline.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeuhvfKtfZ9bCMIPGdfywPoXmVz3CgpP1hmiRYUt-JOhxwK83e-kLWIpw4K8CHRqbViRl7BbWqq5ftQnMQ8E93HQKWxdrs6SWMWZQ5cNHs_jU8K2gTovvKajfv6i4cZ8QZ8z3FQcQ?key=6sk1BlDbdi64HKp2FMqvR3Dp" alt="">
 <figcaption class="wp-element-caption">
 HBAR Price Chart, Source: Sanbase
 </figcaption>
 </figure>
</div>
<h3 class="wp-block-heading" id="h-what-hbar-traders-should-be-aware-of">What HBAR Traders Should Be Aware Of?</h3>
Bullish signals include a potential positive crossover of the 50- and 100-week Exponential Moving Averages (EMAs) and strong momentum reflected in the Moving Average Convergence Divergence (<a href="https://in.tradingview.com/symbols/HBARUSDT/" target="_blank" rel="noopener noreferrer nofollow">MACD</a>) indicator. In the four-hour chart, HBAR has established a rising channel <a href="https://thenewscrypto.com/technical-signals-point-to-solanas-struggle-near-ath-as-bears-take-control/" target="_blank" rel="noopener noreferrer nofollow">pattern</a> supported by the 50-, 100-, and 200-EMAs, suggesting continued bullish sentiment.
However, the Cloud chart paints a more cautious picture. HBAR is hovering near the Kijun-Sen line, indicating consolidation. A failure to stay above the cloud could signal a reversal. The 4-hour chart also highlights a possible “death cross” formation, a bearish signal where the short-term EMA crosses below the long-term EMA. If this occurs, HBAR could test support levels at $0.117 and potentially dip further to $0.052.
On the upside, HBAR’s next resistance levels are at $0.158 and $0.17. A breakout above $0.20 could mark a significant bullish continuation. However, with ADX declining, traders should watch for consolidation or reversals before making decisions.
Highlighted News Of The Day
<a href="https://thenewscrypto.com/is-cardano-prepping-for-bull-run-as-price-affirms-hold-above-1/" rel="noopener noreferrer nofollow">Is Cardano Prepping for Bull Run as Price Affirms Hold Above $1?</a>

Is Hedera Heading for a Major Correction or Rally?

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