CandleFocus

Hedera (HBAR) Price Achieves Major Milestone in Historic 700% Rally

Author: Content Editor
The price of Hedera (HBAR) has experienced a surge, reaching its highest levels since 2021 and outperforming other major cryptocurrencies with a 721% increase over the past 30 days. HBAR now has a market cap of $13.44 billion, surpassing projects like SUI, Uniswap, and Litecoin. Technical indicators suggest strong bullish momentum, although some metrics hint at potential consolidation in the future. The Directional Movement Index (DMI) shows an extremely powerful trend with an Average Directional Index (ADX) reading of 72. The Positive Directional Indicator (D+) confirms strong bullish momentum, but a declining value suggests weakening buying pressure. The Ichimoku Cloud chart also indicates strong bullish momentum, but the significant distance between the current price and the cloud suggests possible overextension in the short term. Despite this, the EMAs are in bullish alignment, and breaking above the $0.39 resistance level could trigger further advances. Support levels at $0.27, $0.19, and $0.12 could provide bouncing points during corrective moves.

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