- Hedera’s Average Directional Index (ADX) has risen to 24.17, approaching a key threshold of 25 that typically signals a strong trend.
- If HBAR price breaks above $0.18 resistance, it could target $0.20, $0.21, and even $0.258 with sustained momentum.
HBAR, the native cryptocurrency of Hedera Hashgraph, has surged more than 7.5% in the last 24 hours, moving to $0.1715, with its market cap soaring to $7.40 billion. Additionally, technical indicators have been flashing a buy signal, hinting that the rally could continue further.
Hedera (HBAR) Shows Signs of Building Momentum as ADX Strengthens
Hedera’s Directional Movement Index (DMI) chart indicates growing trend momentum, with the Average Directional Index (ADX) climbing to 24.17 from 21.82 within the last 24 hours. Regardless of the direction, ADX, a key indicator of strength, suggests that the trend becomes stronger as the readings cross 20 to 25.
Supporting this, the +DI (Positive Directional Indicator) has jumped to 35.05 from 22.33, while the -DI (Negative Directional Indicator) fell to 17.31 from 23.65. This widening gap highlights a significant shift in favor of bullish momentum over bearish pressure.
If the ADX indicator surpasses 25 and the current technical setup persists, HBAR could see the emergence of a strong uptrend. Rising bullish momentum and reduced selling pressure provide a favorable outlook, signaling a potential upside for Hedera in the near term.
The directional indicators reveal a notable shift in momentum, with the +DI jumping to 35.05 from 22.33 and the -DI falling to 17.31 from 23.65. This growing gap between bullish and bearish pressures highlights a strong move in favor of buyers.
Should this trend persist, it could point to a developing uptrend for HBAR, particularly if the ADX surpasses the key threshold of 25. The rising bullish momentum, coupled with declining selling pressure, presents a favorable technical outlook, suggesting Hedera may be positioning itself for further short-term gains.
HBAR Price And Golden Cross Formation
If we look at the Hedera (HBAR) technical chart, the exponential moving average (EMA) lines are tightening, thereby hinting at a potential breakout. There’s also a possibility of the short-term EMAs moving above the long-term ones, which could typically lead to a bullish trend reversal.
If this setup materializes, Hedera’s price could target resistance levels at $0.18 and $0.20, with sustained momentum potentially driving it higher toward $0.21 and $0.258. Furthermore, HEdera’s recent partnership with Nvidia could also serve as a catalyst for the same, as reported earlier.
This bullish outlook depends on HBAR successfully breaking above the immediate resistance at $0.18. Failure to do so could result in a pullback toward the support level at $0.168.
A breakdown below $0.168 would likely open the door to further downside, with key levels at $0.153 and potentially below $0.13 if selling pressure increases.
