HBAR Surges 6% in 24 Hours, Bulls Charge Towards $0.32
1min read Hedera (HBAR) has surged by more than 6% in the last 24 hours, bringing its market capitalization to $10.6 billion. With a nearly 30% increase in price over the past week, hbar stands out as one of the top-performing altcoins among the largest in the market.
The strong rally has pushed key technical indicators into bullish territory. The BBTrend indicator has reached its highest level in over a month, currently at 18.15, maintaining a positive stance for over a day. Earlier today, it peaked at 21.3, marking its highest level since late January. While it has pulled back slightly from that peak, the indicator remains elevated, suggesting that the recent uptrend is still intact.
The Ichimoku Cloud structure also shows sustained upward momentum. Hedera is currently positioned in a bullish structure, with the price trending above the blue conversion line and the red baseline, indicating short-term bullish momentum. The green leading span A is sloping upward, while the orange leading span B remains relatively steady, forming an ascending cloud that suggests growing support. Additionally, the lagging span (green line) is above the price from 26 periods ago, reinforcing the strength of the ongoing trend.
If HBAR maintains this strength, it could soon test critical resistance levels. The Hedera EMA lines indicate a bullish trend, with a golden cross forming yesterday and the possibility of another one soon. A golden cross occurs when a shorter-term EMA crosses above a longer-term EMA, signaling strong upward momentum. If this setup continues, HBAR could test the next resistance at $0.28. A breakout above this level could open the path for a move toward $0.322.
In an extended rally, HBAR might even rise above $0.40 for the first time since November 2021, marking a significant recovery. However, if the uptrend fails to materialize, HBAR could face a retest of the $0.24 support level. Losing this support would indicate a weakening structure, potentially leading to a decline toward $0.213.
