Hedera (HBAR) Price Up 121%, Targeting $12 Billion Market Cap in 30 Days: ADX Up +29.35%, Uptrend Strengthens$HBAR
Hedera (HBAR) is targeting a $12 billion market cap, having reached three-year highs in December. HBAR is up a whopping 121% in the last 30 days, and is supported by strong bullish momentum and key technical indicators. Indicators like the ADX and Ichimoku Cloud are indicating that buyers are in control of the market and there is potential for further upside.
HBAR’s Average Directional Index (ADX) is currently at 29.35, down from 15 the previous day. This significant increase indicates that the current uptrend is gaining strength. The ADX does not provide information about the direction of a trend, but it does measure its intensity. Values above 25 indicate a strong trend, in which case HBAR’s ongoing uptrend is considered strong. This indicates the potential for price to continue its upward movement in the short term.
The Ichimoku Cloud is indicating a strong uptrend for Hedera. The price is above the cloud (green and red areas), signaling positive momentum. The blue conversion line (Tenkan-sen) is above the red base line (Kijun-sen), reinforcing the bullish sentiment. Also, the lagging span (green line) is above both the price and the cloud, reinforcing the bullish view. The future cloud is also projecting upward momentum, suggesting that Hedera may continue its uptrend.
HBAR Price Forecast: Targeting $0.37
HBAR formed a golden cross on December 24, with the short-term EMA crossing above the long-term EMA, signaling a potential uptrend. This technical pattern is showing increasing upward momentum. The next major resistance level is at $0.33. If there is a breakout of this level, HBAR could rally to $0.378. However, if the bullish momentum weakens, HBAR could pull back to $0.27. If this support level is broken, the price could drop to $0.23 and lose previous gains.