Hedera (HBAR) Rallies 30% in One Week as Indicators Hint at Further Growth

Hedera (HBAR) has experienced impressive growth recently, gaining over 6% in just the last 24 hours and nearly 30% over the past week. This surge propels its market capitalization to approximately $10.6 billion, distinguishing it as a top altcoin within the larger cryptocurrency market.

The momentum has driven key technical indicators into a bullish trajectory, with the BBTrend reaching its highest level in over a month and the Ichimoku Cloud signaling sustained positive movement. Should HBAR maintain its current strength, it may soon approach critical resistance points, potentially exceeding $0.35 by March.

BBTrend Indicator Hits a Month-High

The BBTrend for Hedera is currently at 18.15, indicating a sustained positive trend for over a day. Just today, it peaked at 21.3, reflecting the highest value seen since late January.

Even after a slight pullback, the indicator remains on an upward trajectory, suggesting that the recent bullish trend is still in play. The persistent strength in BBTrend indicates strong directional momentum for HBAR’s price, resonating with broader market activities.

BBTrend, a measure derived from the Bollinger Bands, evaluates trend strength based on price relations. A positive BBTrend indicates that price trades within the upper bounds of the Bollinger Bands, often suggesting an ongoing bullish trend.

In HBAR's situation, the current reading of 18.15—despite being lower than the earlier peak—continues to display a strong upward bias. If this trend persists, it may signal further bullish momentum for HBAR, though the slight dip from the peak hints at a possible moderation in buying enthusiasm.

The outcome will vary depending on market performance and shifts in general sentiment.

Ichimoku Cloud Displays a Bullish Scenario

The Ichimoku Cloud analysis indicates that Hedera currently maintains a bullish configuration. The price remains above both the blue conversion line and the red baseline, suggesting positive short-term momentum.

The upward slope of the green leading span A, coupled with a stable orange leading span B, creates an ascending cloud, which implies increasing support. Additionally, the lagging span (green line) is positioned above the price from 26 periods prior, reinforcing the ongoing trend's strength.

However, the price's proximity to the red baseline suggests a crucial decision point for a potential continuation or a short-term pullback.

Hedera Aiming to Exceed $0.35 by March

The EMA lines for Hedera suggest a prevailing bullish trend, as a golden cross formed recently, indicating strong upward movement. A golden cross occurs when a short-term EMA crosses above a long-term EMA, signaling a powerful bullish indication.

Should this setup remain intact, HBAR could target the next resistance at $0.28. Successfully breaking through this level may lead to further advancements toward $0.322.

In the event buying pressure intensifies and Hedera regains the robust upward trajectory witnessed in previous months, HBAR could potentially test levels around $0.35 and $0.37. In a prolonged bullish rally, HBAR might even surpass the $0.40 mark for the first time since November 2021, marking a noteworthy recovery in price.

On the contrary, if upward momentum falters, HBAR may revisit the $0.24 support level.

A breach of this support could indicate a weakening trend structure, possibly leading to declines towards $0.213. If bearish pressure escalates without renewed buying interest, HBAR might fall further to $0.177, testing deeper support zones.