Hedera Coin (HBAR) Price Prediction: Will it Rise to $0.18 per Coin?

Bittime - Hedera (HBAR) coin price prediction, will it rise to $0.18 per coin? The price of Hedera (HBAR) has experienced a sharp spike in a short period of time, rising by around 30% in the last 24 hours and more than 115% in the last seven days.

This significant rise is supported by strong technical indicators, where the ADX indicator shows a strengthening trend, and the Ichimoku Cloud chart gives a clear signal of bullish momentum.

HBAR's current price movement suggests further upside potential, with key resistance levels at $0.14 and $0.182 being the next targets.

However, if the bullish trend weakens, support levels at $0.098 and $0.068 could determine the next direction of price movement.

The following is an analysis from Beincrypto on the price of the Hedera coin.

Also read How to Buy Hedera (HBAR)

HBAR Price Upward Trend is Very Strong

HBAR's ADX (Average Directional Index) indicator shows a significant increase, jumping from around 17 to 42.47 in just one day.

This sharp rise indicates a strengthening of the ongoing trend, with the transition from a weak or uncertain trend to a strong and well-defined uptrend after the recent price surge.

A high ADX value, as currently shown, reflects the huge momentum behind the price movement.

Technically, ADX measures the strength of a trend on a scale of 0 to 100 without identifying the direction of the trend. Values below 20 indicate a weak trend, while values above 25 signify a strong trend.

With Hedera's ADX standing at 42.47, this strong uptrend suggests that buying pressure continues to strengthen, providing potential for continued price gains in the near future.

Source: Beincrypto

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Ichimoku Cloud Chart Shows Bullish Momentum for HBAR

Technical analysis on the Ichimoku Cloud chart shows that Hedera (HBAR) is in a strong uptrend.

The price of HBAR has broken well above the (Kumo) cloud, which is one of the early indications of a bullish trend.

The presence of a fairly thick green cloud in front of the chart signals that strong support will underpin the price and reinforces the possibility of continued upward momentum.

Several other elements in the Ichimoku Cloud chart also support bullish potential. The Tenkan-sen (conversion line) has moved above the Kijun-sen (base line), which is a positive signal for near-term momentum.

In addition, the Chikou Span (lagging line) is well above the current price, confirming the strength of the ongoing trend.

The combination of these elements indicates that the bullish momentum on HBAR is very strong.

If this trend continues to hold, the potential for price increases to the next resistance level becomes very likely.

Also read 1 HBAR to IDR

HBAR Price Prediction: Heading for a New Rise of Up to 53%?

If the current uptrend continues, Hedera (HBAR) will most likely test the strong resistance level at $0.14.

If the price manages to break this level, the next potential upside is to $0.182, which is a significant upside of 54% from the current price position.

Source: Beincrypto

This bullish scenario is in line with the technical indicators, which show increasing momentum.

However, in a bearish scenario, where the trend undergoes a reversal, the first support level at $0.098 would be an important zone to watch.

If this support fails to hold, the price could drop further down to $0.068.

Source: Beincrypto

Also read What is Discovery Price?

Conclusion: Will HBAR Reach $0.18?

With strong technical momentum and significant price increases in a short period of time, HBAR has a great opportunity to continue rising towards the target of $0.18 per coin.

However, investors should still be wary of potential trend reversals and monitor key support and resistance levels.

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