Hedera (HBAR) Coin: Trading Volume Reaches $2 Billion, Bullish?

Bittime - Hedera (HBAR) has registered a price increase of over 37% in a week, with trading volume surpassing $2 billion. What will the price of HBAR be like in the future?

The surge was driven by bullish technical indicators, including increasing ADX, positive signals from the Ichimoku Cloud, and a favorable EMA alignment.

HBAR Approaches Key Resistance at $0.40

At the moment, HBAR is approaching an important resistance level at $0.40. If it successfully breaks through this level, the HBAR price will reach its highest point since November 2021. 

However, traders need to pay attention to the support level at $0.33, which could be crucial in the event of a reversal.

Ichimoku Cloud Shows Bullish Setup

The Ichimoku Cloud chart for HBAR shows a clear bullish trend. The price is currently trading well above the cloud, which is considered a strong bullish signal. 

Tenkan-sen (blue line) is above Kijun-sen (red line), further confirming upward momentum. Lagging Span (green line) is also above the price, proving the strength of the current trend.

The cloud ahead is green and widening, indicating the continuation of bullish momentum in the near future. If HBAR price remains above Tenkan-sen and Kijun-sen, it may aim for higher resistance levels. 

HBAR Ichimoku Cloud. Source TradingView/BeInCrypto

However, if the price experiences a retracement, the Kijun-sen and the top of the cloud can serve as strong support levels.

Read too How to Buy Hedera (HBAR)

HBAR Price Prediction: Highest Level Since 2021?

The HBAR EMA line remains very bullish, with the short-term EMA sitting above the long-term EMA and keeping a healthy distance between them. This alignment reflects strong upward momentum, indicating that the current uptrend could continue. If buying pressure remains strong, HBAR may test resistance at $0.40.

HBAR Price Prediction. Source: TradingView/BeInCrypto

If it manages to break this level, HBAR price will reach its highest level since November 2021. On the other hand, if momentum reverses, support at $0.33 will be a critical level to pay attention to. 

If it breaks this support, a retracement towards $0.29 is likely, with further declines potentially taking Hedera price down to $0.26 if a strong downtrend develops.

Read too Latest Hedera (HBAR) Price Prediction: Could It Rise to $0.39 Level?!

FAQs about Hedera Price Increase (HBAR)

1. What caused the price of HBAR to rise? 

HBAR price rose as trading volume surpassed $2 billion, driven by bullish technical indicators such as positive signals from Ichimoku Cloud.

2. What are the important resistance and support levels for HBAR?

The key resistance level for HBAR is $0.40, while the support level to watch is $0.33. If the price breaks the resistance level, HBAR could reach its highest point since November 2021.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference

Tiago Amaral, Hedera (HBAR) Price Rises 5% with Trading Volume Surpassing $2 Billion, Accessed January 18, 2025

Author: IN