Hedera’s (HBAR) value appears to be weakening following a 4% decrease on Thursday, with its market capitalization approaching nearly $8 billion. Technical analysis hints that sellers might be taking over, particularly since the directional trend seems to be changing.
In simpler terms, these two indicators suggest the market is stuck in a tight range, tilting slightly towards a downturn. If existing resistance levels stay strong and negative trends start forming, HBAR’s upcoming action might be decisive.
HBAR DMI Shows Sellers Are in Control
The Hedera’s Directional Movement Index (DMI) chart indicates that the Average Directional Index (ADX), which measures the strength of the trend, has dropped to 16.6 today, marking a significant decrease compared to yesterday’s level of 23.5.
The ADX (Average Directional Movement Index) serves as a significant tool for determining the intensity of a market trend. Such a sudden decline might indicate that the power driving any recent price action, whether it’s bullish or bearish, is starting to diminish.
A ADX under 20 usually indicates no defined trend or sideways price action, similar to HBAR’s recent period of consolidation that we’ve seen in the past few days.
The ADX (Average Directional Movement Index) doesn’t reveal the direction of the market trend; instead, it shows its intensity. A value lower than 20 often suggests a weak or absent trend, while a value between 20 and 25 might indicate an emerging trend. Values above 25 usually point towards a strong trend.
In addition to the ADX, the DMI’s Positive Directional Indicator (+DI) and Negative Directional Indicator (-DI) offer directional insights. Presently, +DI stands at 18.4, showing a decrease from 26.9 the previous day, whereas -DI has risen to 22.33, increasing from its earlier value of 13.61.
This change in power indicates that negative (bearish) movement is gaining ground, while positive (bullish) movement weakens.
With a weak Average Directional Indicator (ADX), it suggests that while sellers may have the advantage, the overall trend remains uncertain. This supports the notion that HBAR might continue moving within its current range until a clear breakout indicates a shift in direction.
Hedera Ichimoku Cloud Indicates a Bearish Trend Could Arise Soon
On the Ichimoku Cloud chart, it’s evident that Hedera’s market is balanced, as the price consistently lingers close to the cloud’s lower boundary. The latest candles demonstrate uncertainty in this region, mirroring the current consolidation phase.
The graph’s Kijun-sen (blue line) shows no slope, signaling a slowdown or halt in progression, possibly leading to a brief interruption in the current trend. Meanwhile, the Tenkan-sen (red line) is tilting down, hinting at temporary bearish influence in the near term.
Although it currently appears uncertain, there’s a hint of optimism as the trendline has turned upward (bullish). However, this positive outlook is not definitive until HBAR manages to move significantly above this line, providing confirmation.
The Kumo, or the cloud itself, maintains a flattened and slim shape, indicating that we’re still in the process of consolidation.
Generally, a delicate cloud in financial charts implies that the support or resistance is weak, allowing prices to move more freely but making it difficult to trust a breakout unless it’s backed by substantial volume and momentum. The Chikou Span, or trailing line, seems entangled within previous price movements, which also suggests uncertainty about the direction of the trend.
In summary, the Ichimoku indicators suggest a state of uncertainty in the market, showing a minor short-term bearish bias but also hinting at the possibility of a developing trend favorable to buyers if they manage to take charge.
Can Hedera Break Above $0.20?
Recently, Hedera has encountered significant opposition, finding it challenging to surpass the $0.199 mark – an effort that’s been unsuccessful on two separate occasions within the last few days. This persistent refusal has established a barrier that’s proving difficult to overcome.
Currently, the EMA lines are becoming tighter and there’s a growing chance of a “death cross” formation, which might suggest a possible shift towards bearish trends. If this crossover occurs, it could intensify downward pressure. This situation may cause HBAR to reevaluate its significant support level around $0.184.
If a drop occurs beneath this point, it might lead to more decreases, possibly pushing HBAR toward the support area around $0.179. Should this support fail as well, HBAR may fall below $0.17 for the first time since November 2024.
If the market’s momentum shifts, there remains an argument for the bulls. If the Hedera price recovers and establishes a lasting upward trend, a potential third attempt to surpass the $0.199 resistance level may arise.
If we manage to break through that particular level, it’s highly probable that we’ll advance towards the next potential resistance area around $0.21.
If the positive trend persists, there’s a possibility that prices could climb further up to approximately $0.258.
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2025-03-28 16:03