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Hedera (HBAR) is struggling under increasing bearish pressure, as multiple technical indicators point to a strong downtrend. The Average Directional Index (ADX) has surged, while the Ichimoku Cloud setup remains bearish. Additionally, a recent death cross on HBAR’s Exponential Moving Averages (EMA) signals further potential downside.
ADX Confirms Strength of HBAR Downtrend
HBAR’s ADX has climbed to 43.3, a sharp rise from 11.4 in just three days. This steep increase indicates that the strength of the current trend is intensifying. The ADX, which measures trend strength without specifying direction, suggests that the ongoing downward momentum is becoming more pronounced.
With values above 40 generally indicating a strong trend, the current ADX reading suggests that HBAR’s bearish momentum is gaining traction. Unless there is a significant surge in buying activity, further downside pressure remains likely. A high ADX in a downtrend often makes it difficult for the price to recover in the short term.
Ichimoku Cloud Signals Persistent Bearish Trend
The Ichimoku Cloud on the HBAR chart further reinforces the bearish outlook. HBAR is trading below the cloud, a key indication of a downtrend. Additionally, the future cloud is red, suggesting that bearish momentum is expected to continue.
Key Ichimoku indicators, such as the Tenkan-sen (blue line) below the Kijun-sen (red line), confirm short-term weakness. Meanwhile, the Chikou Span (green line) remains below the price action, adding to the overall bearish bias. For a trend reversal, HBAR would need to reclaim and hold above the cloud, which seems unlikely given the current setup.
HBAR Price Prediction: Will Hedera Drop Below $0.10?
With HBAR’s EMA lines recently forming a death cross, the downtrend appears to be strengthening. The next key support level is at $0.125, and a break below this could push HBAR toward $0.053.
For any meaningful recovery, HBAR must reclaim $0.25 as support. A breakout above $0.29 could signal a shift in momentum, but for now, technical indicators favor continued downside movement.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
