- Hedera indicates bullish signs increasing 24% in the last 24 hours.
- Technical indicators like RSI and MACD indicate a potential rebound for HBAR.
The broader crypto market has witnessed a massive downturn in the last 2 days. Despite market weakness, Hedera is showing bullish signs on the technical chart. It has surged by 24% in the last 24 hours.
Moreover, technical indicators such as RSI and MACD suggest that a rebound could be on the horizon for HBAR. Hedera hit a high of $0.4011 at the end of January. However, the bulls failed to maintain bullish momentum and the price halted, breaking below the key EMAs.
HBAR price took support on a 200-day exponential moving average and bounced back from there. Now it has broken the 50-day EMA hurdle to start a fresh bullish rally. If HBAR’s price successfully breaks the 50-day EMA level investors can witness a 40% to 50% upside move in the upcoming days.
Will Hedera Price Break The 50-Day EMA Level?
RSI is heading in an upward direction currently at 53.18 above the 14-day SMA curve suggesting bullishness. MACD also showed a bullish crossover and headed in the upward direction with a green histogram.
According to CMC data, at the time of writing Hedera is trading at $0.23647 with an intraday surge of 24% suggesting bullishness. The daily trading volume has surged by 51% indicating bullish momentum and the volume-to-market ratio is 6.51% indicating good liquidity. Moreover, the market cap is $9.63 billion and the 24-hour trading volume is $633.41 million.
Furthermore, the trading view technical summary also supports a bullish outlook. As per the technical summary for Hedera crypto, out of 25 indicators 5 are on the sell side for the altcoin, 10 are on the neutral side and 10 are on the buying side, suggesting buying momentum.
Technical analysis and the indicators suggest a potential rebound for the HBAR crypto price. If it breaks the $0.2429 level the investors might see a 40% upside rally in the upcoming days.
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