Hedera Surges Over 9% to $0.2597 Amid Crypto Market Rally
Hedera (HBAR) experienced a notable 9.97% surge in the past 24 hours, reaching a trading price of $0.2597. This upswing comes as the global crypto market cap jumped 5.07%, briefly touching $2.9 trillion. Despite the price increase, HBAR’s daily trading volume declined by over 13%, now standing at $941 million.
HBAR’s Price Movement and Market Activity
Earlier, Hedera faced bearish pressure, pushing its price down to $0.2266. However, bullish momentum soon took over, propelling it to a daily high of $0.2582 before settling at its current level.
- Market Cap: $10.88 billion
- 24H Liquidations: $2.42 million
- 7-Day Price Gain: 31.22%
- Weekly Range: $0.18 – $0.2838
Will HBAR Continue Its Uptrend?
If Hedera maintains its upward trajectory, it could test the critical $0.2586 resistance level. A successful breakout may push the price toward $0.27. However, if buying pressure weakens, HBAR risks falling below $0.2512, potentially leading to a deeper correction.
Technical Indicators Signal Mixed Momentum
- MACD: Brief bullish crossover suggests upward momentum, but the trend remains uncertain.
- Chaikin Money Flow (CMF): -0.17, indicating strong selling pressure outweighs accumulation.
- Bull Bear Power (BBP): 0.02617, signaling mild bullish momentum.
- Relative Strength Index (RSI): 61.31, suggesting that HBAR is not overbought and has room for further gains.
Despite a pullback in trading volume, Hedera’s recent price surge signals growing investor interest. Whether HBAR sustains its rally will depend on broader market trends and bullish momentum.
