Hedera Surges 2.25% as Golden Cross Confirms Bullish Trend at $0.20

Hedera (HBAR) has gained over 2% in the latest trading session, marking a significant technical milestone with the formation of a golden cross at $0.20. The event occurred as the 50-day moving average moved above the 200-day moving average, signaling a potential shift in the longer-term trend direction. This golden cross followed a steady climb beginning in early July, when the price emerged from a consolidation phase near $0.12 and moved beyond both key averages[1].

Following the uptrend, HBAR continued to trade above both the 50-day and 200-day moving averages, establishing a pattern of higher highs and higher lows. The price reached a peak near $0.28 before experiencing a pullback that brought it back to around $0.24. Recent trading activity has shown a recovery, with the price settling at $0.2577 and a 2.25% daily increase. Both moving averages are now sloping upward, reinforcing the idea that momentum remains firmly in favor of the bulls[1].

Technical analysis highlights $0.2250 as the current level of support, corresponding to the base established after the golden cross. Meanwhile, resistance remains near $0.28, which is the most recent swing high. Price behavior around these levels will be key in determining the next directional move. So far, the price has maintained its position above both moving averages, suggesting that short-term movement is aligned with the broader trend[1].

According to CoinMarketCap data, the latest session saw HBAR closing at $0.2577 after a 2% decline over the previous 24 hours. The cryptocurrency recorded $350.98 million in trading volume, an 8.55% decrease from the prior session. The day began near $0.2434 and reached an intraday high of $0.270 before experiencing a sharp pullback. By midday, the price had fallen to around $0.256. Later trading hours saw a partial recovery, stabilizing at approximately $0.257[1].

Market capitalization stood at $10.92 billion during the session, reflecting the day’s overall downward movement in valuation. The golden cross occurred amid aligned short-term and long-term upward momentum, and the current market structure continues to support this trend as both moving averages extend higher. Price movement since the crossover has demonstrated sustained buyer interest without breaking below the established support level. This configuration suggests that the market remains in an active upward phase and that trend developments warrant continued observation[1].

The golden cross at $0.20 is a bullish technical signal, and its confirmation at this level reinforces the view that HBAR is in the early stages of a potentially significant upward move. Traders and investors are now watching for a test of the $0.28 resistance level, which could serve as the next key target if bullish momentum continues to hold.

Source: [1] Hedera Surges Over 2% as Golden Cross at $0.20 Confirms Upward Momentum (https://cryptonewsland.com/hedera-surges-over-2-as-golden-cross-at-0/)