CandleFocus

Hedera (HBAR) Price Surges 506% but Faces Resistance

Author: Content Editor
Hedera (HBAR) has experienced significant growth in the past month, with its price surging over 506% and reaching a market capitalization of almost $12 billion. However, the recent uptrend appears to be losing steam, as indicated by the coin's ADX (Average Directional Index) standing at 24.2, signaling a weakening trend. The price peaked at $0.39 on December 3 but has since been declining. While HBAR remains above the Ichimoku Cloud, suggesting a bullish sentiment, there are signs of consolidation as the trend weakens. If the price breaks below the cloud, it could indicate a potential shift to a neutral or bearish trend, with key support levels at $0.27, $0.17, or even $0.12. On the other hand, if the uptrend regains momentum, HBAR price could test the $0.40 resistance level, with a potential target of $0.45, representing a 45% surge from its current levels.

Related News