Hedera’s (HBAR) price has surged 182.56% in the last 30 days, but recent indicators suggest that its uptrend is losing momentum. The ADX has dropped sharply, signaling a significant weakening in trend strength despite the uptrend still being intact.

The Ichimoku Cloud and EMA lines also indicate potential risks, with HBAR nearing critical support levels and a possible death cross forming.

HBAR Uptrend Is Quickly Losing Its Steam

Hedera ADX has dropped to 26.2 from over 60 just three days ago, signaling a significant decline in trend strength. The ADX, or Average Directional Index, measures the strength of a trend, regardless of direction, on a scale from 0 to 100. Values above 25 indicate a strong trend, while values below 20 suggest a weak or no trend.

The sharp decrease reflects that while HBAR remains in an uptrend, its momentum has significantly weakened.

With the ADX hovering just above 25, HBAR current uptrend is still intact but far less strong than it was at higher ADX levels. This suggests a potential consolidation phase as bullish momentum slows. For the uptrend to regain strength, the ADX would need to rise again, supported by increased buying pressure.

However, if the ADX continues to decline, it may signal a further weakening of the trend, increasing the risk of a reversal.

Ichimoku Cloud Shows The Trend is Reverting

The Ichimoku Cloud chart for Hedera shows the price currently sitting near the Kijun-Sen (orange line) and Tenkan-Sen (blue line), indicating a consolidation phase after its recent rally.

The price is not above the cloud anymore, suggesting the trend could reverse soon.

If HBAR holds above the Kijun-Sen and bounces back, it could resume its uptrend, confirming the bullish sentiment.

Conversely, if the price continues dipping below the cloud, it could signal a trend reversal, with increased selling pressure potentially driving further declines.

HBAR Price Prediction: A Downtrend Could Bring A Strong Correction

Hedera EMA lines indicate that the current uptrend may soon reverse, as the shortest EMA line is nearing a crossover below the longer-term line.

This formation, known as a death cross, is a strong bearish signal and could trigger increased selling pressure. If the death cross materializes, Hedera price is likely to test support at $0.117, and if this level fails, the price could drop further to $0.052.

On the other hand, if HBAR price regains its bullish momentum and avoids the death cross, it could test key resistances at $0.158 and $0.17. Breaking through these levels would likely push the price toward $0.2, representing a 48% potential upside.

As overall crypto market activity slows, liquidations have reached $285.48 million in the past 24 hours, affecting 97,882 traders. However, defying the broader market trend, some altcoins have surged, hitting new all-time highs today.

BeInCrypto has identified three crypto tokens that hit all-time highs today, with Dolos the Bully (BULLY) leading the pack.

Dolos the Bully (BULLY)

Solana-based meme coin Dolos the Bully (BULLY) rocketed to a new all-time high today. The meme coin briefly traded at a peak of $0.23 before witnessing a pullback. As of this writing, BULLY trades at $0.20 and continues to enjoy a significant bullish bias.

Readings from its Super Trend indicator assessed on an hourly time frame confirm this. As of this writing, BULLY’s price rests above the green line of this indicator. 

The Super Trend indicator measures the direction and strength of an asset’s price trend. It is displayed as a line on the price chart, with red indicating a downtrend and green signaling an uptrend. When the Super Trend line is below the asset’s price, it confirms an uptrend, suggesting bullish momentum is likely to continue.

If this bullish trend persists, BULLY’s price could reclaim its all-time high. However, should token selloffs commence, the meme coin’s value may drop below $0.19.

Parallel AI (PAI)

PAI currently trades at $0.52. It hit an all-time high of $0.60 today and witnessed a 14% pullback. Despite this, a rebound is possible as bullish pressure continues to strengthen. An assessment of PAI’s Aroon indicator confirms this bullish outlook. PAI’s Aroon Up Line is at 100% as of this writing. 

The Aroon Indicator determines the strength and direction of an asset’s price trend by measuring the time since the asset’s highest high (Aroon Up) and lowest low (Aroon Down) within a set period. When the Aroon Up line is at 100%, a new high was recently achieved, signaling strong upward momentum and the potential continuation of a bullish trend. 

If PAI witnesses a resurgence in buying pressure, its price will revisit its all-time high and attempt a rally beyond it. On the other hand, if selling activity gains momentum, the token’s price may drop toward $0.50. If the bulls fail to hold this level, PAI’s value may dip further to $0.43.

Stonks (STNK)

STNK hit an all-time high of $347.06 today but has since dropped 26%, trading at $263.67 as of this writing. The decline is attributed to a surge in profit-taking activity, which has exerted downward pressure on its price.

Analysis using the Fibonacci Retracement tool on an hourly chart shows that STNK has broken below the support at $268.01, signaling a strengthening of the downtrend. If new demand does not enter the market, its price could decline to $219.10.

On the other hand, if buying pressure increases, STNK may attempt a rally above $268.01, potentially climbing back toward its all-time high.

Tether, the prominent stablecoin issuer, is discontinuing EURT because of the EU’s MiCA regulations. Nonetheless, the firm invested in other MiCA-compliant stablecoins and maintains revenue streams from the European market.

Several competitors have regarded MiCA as an opportunity to disrupt Tether’s EU stablecoin dominance, and the firm has conceded some of this contest.

Tether Reacts to MiCA

This morning, the prominent stablecoin Tether announced via social media that it would discontinue EURT, its Euro-backed asset. The company explained its decision via a blog post, adding that the firm had stopped minting the asset, and current holders would have one year to redeem EURT tokens.

“This decision aligns with our broader strategic direction, considering the evolving regulatory frameworks surrounding stablecoins in the European market. Until a more risk-averse framework is in place — one that fosters innovation and offers the stability and protection our users deserve — we have chosen to prioritize other initiatives,” the post claimed.

In other words, Tether chose this path for one clear reason: the impending Markets in Crypto Assets (MiCA) law in the European Union. MiCA will transform crypto regulations in the EU, and it will particularly rearrange stablecoin dynamics. Earlier in September, multiple large companies openly considered MiCA an opportunity to disrupt Tether’s European presence.

Competitors have already begun entering the EU market with MiCA-compliant stablecoins; the first of which launched in September. Schuman Financial, a company founded by former Binance EU executives, released its own asset yesterday. Other crypto sectors are also taking advantage of MiCA, with Revolut X expanding European trade operations earlier this month.

Still, although Tether has conceded part of this market, the death of EURT does not signal the end of Tether’s interests. The announcement was quite clear that Tether was a major investor in a MiCA-compliant stablecoin from Quantoz. Tether also promoted Hadron, its new solution designed to support issuers in creating and managing stablecoins.

In short, Tether is engaging in a calculated retreat from the European market, not an outright surrender. The company is maintaining several revenue streams in MiCA-compliant stablecoins and may reenter the space at a later date. For now, the company has considerable resources to address this problem.