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Hedera’s recent uptick of over 5% showcases potential bullish momentum, yet underlying technical indicators suggest a cautious outlook ahead.
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While short-term relief appears, the bearish alignment of EMA signals persistent trends of weakness that traders should monitor closely.
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“The narrowing gap between +DI and -DI may indicate a bullish reversal, although the overall trend remains unconfirmed for Hedera,” notes a COINOTAG source.
Hedera (HBAR) displays a short-term recovery while remaining in a weak trend; key support levels are critical for future price movements.
Hedera Shows Early Signs of Bullish Shift, But Trend Still Weak
The recent uptick in Hedera’s price can be attributed to its DMI indicator, which currently shows the ADX at 19.8, slightly above a previous low of 18.49 recorded two days ago. However, this remains a decline from a peak of 21.94 earlier today.
The Average Directional Index (ADX) serves as a measure of trend strength, independent of its direction. Typically, values under 20 are viewed as indicative of a weak or consolidating market, while those exceeding 25 suggest a robust trend. HBAR’s current placement near 20 implies that momentum remains soft, indicating no definitive directional strength as of now.
HBAR DMI. Source: TradingView.
Examining the directional indicators, we find that the +DI (Directional Indicator) has surged from 13.42 to 14.2, reflecting a modest uptick in bullish pressures. Conversely, the -DI has declined from 19.89 to 17.15, indicating a reduction in bearish momentum.
This compression between the +DI and -DI can be an early indicator of a potential bullish shift, although with the ADX lingering below 25, the overall trend remains ambiguous.
If the +DI continues its ascent and surpasses the -DI, Hedera may initiate a short-term rebound; however, the market sentiment continues to be one of caution, resembling a sideways trend.
HBAR Enters Cloud Zone as Trend Momentum Stalls
The analysis of Hedera’s Ichimoku Cloud chart reveals a predominantly neutral to slightly bearish trend. Currently, the price trades beneath the Kijun-sen (red line) and is precariously close to the Tenkan-sen (blue line), which underscores weak short-term momentum and uncertain directionality.
The flat nature of both lines suggests that the market is in a consolidation phase characterized by indecision.
HBAR Ichimoku Cloud. Source: TradingView.
Looking further, the Kumo (cloud) appears notably thick and bearish, with the Senkou Span A positioned below the Senkou Span B, further indicating downward pressure. Nevertheless, with price action now located within the cloud zone, this could imply a potential exhaustion of trends or a transitional phase.
Moreover, the Chikou Span (the lagging green line) overlaps recent price candles, reinforcing the idea of a sideways market trend. Without a decisive breakout above the cloud and a regain of the Kijun-sen, the outlook for HBAR remains largely stagnant.
Hedera Holds Key Supports, But Bearishness Still Lingers
Analyzing Hedera’s Exponential Moving Average (EMA), one observes a bearish structure formed by the short-term averages lying below the long-term averages. This configuration often signifies an ongoing downward trend. Nonetheless, HBAR’s recent activity has seen it test and maintain critical support levels at both $0.156 and $0.153, evidencing that buyers are actively defending these positions.
Should a trend reversal emerge from these points, HBAR might initiate a recovery targeting resistance at $0.168. A movement above this point could potentially progress toward $0.178, with further bullish momentum possibly steering towards $0.201.
HBAR Price Analysis. Source: TradingView.
On the contrary, if selling pressure mounts once again, Hedera could revisit support zones at $0.156 and $0.153. Should these levels falter, the technical structure may significantly weaken, leading to potential declines.
In such a scenario, the next major support level lies considerably lower, around $0.124, reflecting a substantial drop that would reinforce the prevailing bearish trend.
Conclusion
In conclusion, while Hedera’s recent movements suggest early signs of bullish action, the overall technical landscape remains fragile. Key support levels at $0.156 and $0.153 are crucial for maintaining bullish sentiment; however, vigilance is required as any breach of these points may trigger a deeper bearish trend. Observers and traders should remain cautious but aware of potential recovery signals as market conditions evolve.
