- Hedera is hovering at $0.14, up by over 5%.
- HBAR’s trading volume has exploded by over 209%.
The crypto assets keep falling without looking back. Some of the prices have signalled a bullish shift, but failed to hold their ground. The largest assets, like Bitcoin (BTC) and Ethereum (ETH), are trading on the downside. Turning toward the altcoin pack, Hedera (HBAR) has gained momentum by over 5.28% in the last 24 hours.
In the early hours, HBAR trades at a bottom range of $0.137, and with the bullish encounter, the price has climbed to a high of $0.155. A sturdy bullish pressure may trigger the asset to rise to its recent highs, eventually trading on the upside.
At press time, Hedera traded at around the $0.1442 level, with its market cap resting at $6.12 billion. Meanwhile, the daily trading volume has exploded by over 209.6%, reaching the $532.66 million zone. Besides, the market has witnessed a 24-hour liquidation of $603.68K worth of Hedera.
Will Hedera See a Bullish Shift Soon?
If Hedera price climbs, the crucial resistance at $0.1450 could be tested. An extended gain would extend the upside correction and push the golden cross to take place. Eventually, the bulls may take the price high toward the $0.1458 mark. Conversely, if the bullish momentum fades, HBAR might immediately drop below the $0.1434 range. Further losses could trigger the death cross to unfold and lead the asset to a deep correction phase, driving the price to a low of $0.1425 or even lower.
The Moving Average Convergence Divergence (MACD) line is positioned above the zero line, but the signal line remains below it. This shows that the momentum is shifting upward for an early bullish turn. The HBAR market is transitioning out of its previous weakness. Moreover, Hedera’s Chaikin Money Flow (CMF) indicator value settled at 0.11, which is moderately positive. Also, the money is flowing into the asset, not extremely strong, but it does indicate a healthy buying pressure.
HBAR’s daily Relative Strength Index (RSI) hovers at around 57.28, signalling mild bullish momentum. It is far from the overbought zone above 70, with enough room for more upside. The Bull Bear Power (BBP) reading of 0.00842 is very close to neutral. The value is very small; neither bulls nor bears are showing strong control. This is a balanced or indecisive zone, where the momentum could shift either way depending on the upcoming momentum.
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Source: https://thenewscrypto.com/big-test-for-hedera-hbar-how-high-can-it-climb-before-the-bulls-slow-down/
