bullish

Hedera

Token

Movement

Cloud

Hedera (HBAR) has achieved unprecedented levels, boasting a spectacular 721% increase over the past month. This remarkable performance catapults it above numerous major cryptocurrencies in terms of gains, marking its highest price since 2021. 
Now commanding a market cap of $13.44 billion, HBAR <a href="https://beincrypto.com/hbar-price-historic-rally/">outpaces</a> prominent projects such as SUI, Uniswap, and Litecoin. Technical indicators across various timeframes underscore a robust bullish momentum, though certain metrics suggest that a period of consolidation might be on the horizon. 
The Directional Movement Index (DMI) for HBAR reveals a robust trend, with the Average Directional Index (ADX) registering a reading of 72. Such a high ADX value highlights exceptionally strong trend momentum. Typically, an ADX above 25 signals strength, while 50 or more indicates a trend of exceptional force. 
The Positive Directional Indicator (D+) stands at 42.6, despite its decline from 55, alongside a minimal Negative Directional Indicator (D-) of 1.2. This combination confirms significant bullish momentum for HBAR. The notable difference between D+ and D- supports the continuation of the uptrend. However, as the D+ value decreases, it may point to a weakening in buying pressure. Nonetheless, as long as D+ remains far above D-, the bullish trend structure persists. 
The Ichimoku Cloud chart for Hedera highlights strong bullish energy, with the price significantly above both the base line (kijun-sen) and the conversion line (tenkan-sen). This separation indicates growing upward momentum, though there is a risk of the price stretching too far from the baseline. 
The bullish cloud (kumo) structure and its upward future formation indicate sustained upward support. Nevertheless, the current pricing's distance from the cloud suggests potential overextension, which may lead to a retest of the baseline or top of the cloud as support during consolidation. 
Hedera's price momentum showcases remarkable growth, climbing 721% in just 30 days. With Exponential Moving Averages (EMAs) perfectly aligned bullishly, shorter timeframes leading longer ones suggest sustained upward momentum. A breakout beyond the $0.39 resistance could propel HBAR towards psychological milestones at $0.45 and $0.50, presenting a possible 42% upside. 
Conversely, the extensive rally has inflated the price beyond key EMAs and the Ichimoku Cloud, hinting at HBAR's potential overextension. Support levels at $0.27 and $0.19 might offer rebounds during corrections. Should selling pressures increase, $0.12 remains critical support.

Hedera Token Marks 700% Growth in Record-Breaking Run

Yellow News

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