Hedera (HBAR) price has experienced a sharp decline, dropping more than 13% in the last 24 hours and 19% over the past week. This downturn has pushed HBAR’s market cap down to $9 billion, causing it to lose the crucial $10 billion threshold.

Technical indicators, including a rising ADX and a bearish Ichimoku Cloud setup confirm the increasing strength of the current downtrend. With a recent death cross forming on its EMA lines, HBAR now faces critical support levels. At the same time, any potential recovery would need to reclaim key resistances to reverse the current bearish momentum.

Hedera ADX Indicates the Current Downtrend Is Strong

Hedera Average Directional Index (ADX) is currently at 43.3, a sharp rise from 11.4 just three days ago. This significant increase suggests that the strength of HBAR’s current trend is intensifying.

The ADX indicator measures trend strength without indicating direction, meaning it can apply to both upward and downward trends. Given HBAR’s ongoing downtrend, this surge in ADX reflects growing momentum in the current price movement, reinforcing the prevailing bearish sentiment.

ADX values range from 0 to 100, with readings below 20 indicating a weak or non-existent trend, while values above 25 signal a strengthening trend. When ADX surpasses 40, it suggests a strong trend in place. With HBAR ADX now at 43.3, the downtrend appears to be gaining traction rather than weakening.

This could mean further downside pressure unless a significant shift in buying activity occurs. A high ADX in a downtrend often signals strong bearish momentum, making it difficult for the price to reverse in the short term without a clear change in market structure.

HBAR Ichimoku Cloud Shows a Bearish Setup

The Ichimoku Cloud on the HBAR chart signals a clear bearish trend. The price is currently trading below the cloud, which indicates a downtrend. Additionally, the cloud ahead is red, suggesting that bearish momentum is expected to continue. The Tenkan-sen (blue line) is below the Kijun-sen (red line), reinforcing the short-term bearish structure.

Meanwhile, the Chikou Span (green line) is also below the price action, confirming the overall downward bias. The recent sharp drop and subsequent weak rebound indicate that sellers remain in control.

For HBAR price to reverse its bearish trend, it would need to reclaim the cloud and establish support above it. However, with the future cloud projected as bearish and the price failing to show signs of a strong reversal, further downside remains likely.

If selling pressure continues, HBAR may struggle to break above resistance levels near the Kijun-sen. On the other hand, a decisive push above the cloud could shift momentum, but at the moment, the Ichimoku Cloud setup favors continued downside movement.

HBAR Price Prediction: Can Hedera Fall Below $0.1 In February?

HBAR’s recent price action has taken a bearish turn, with its EMA lines forming a death cross in the last two days. This bearish crossover, where the short-term EMAs fall below the long-term EMAs, signals a potential continuation of the downtrend. If selling pressure persists, Hedera price could test its next key support at $0.125, a level that could determine whether further downside is imminent.

A break below this support would open the door for deeper declines, with $0.053 being the next major level of interest. Given the current structure, the bearish momentum remains strong unless a significant shift in trend occurs.

However, if HBAR price manages to regain its bullish momentum from previous months, reclaiming $0.25 as support would be the first sign of strength. A successful breakout above this level could lead to a move toward $0.29, a key resistance that, if breached, would likely fuel further upside.

Beyond that, HBAR could attempt to reclaim levels above $0.30 and even push toward $0.35, where stronger resistance would come into play. For this scenario to unfold, HBAR would need sustained buying pressure and a reversal in trend indicators, as the current setup still favors the downside.

While many cryptocurrencies struggle with price declines, DEXE has bucked the trend, emerging as the market’s top gainer in the past 24 hours. The governance token has outperformed many leading assets, which have faced losses during the same period.

With steady demand for the token, it may extend its gains in the short term. 

DEXE Leads Market Rally

The DeXe protocol is an open-source platform for creating and managing decentralized autonomous organizations (DAOs). The DeXe DAO, which has DEXE as its governance token, controls the protocol.

DEXE currently trades at $22.67, noting a 4% price surge over the past 24 hours, making it the market’s top gainer. This rally has pushed the token’s price to its highest level since December 2021. With strengthening demand, DEXE appears poised to maintain this uptrend.

The setup of its Super Trend indicator supports this bullish outlook. At press time, the indicator’s green line acts as dynamic support for DEXE’s price at $14.52.

This momentum indicator helps traders identify the market’s direction by placing a line above or below the price chart based on the asset’s volatility. As with DEXE, when an asset’s price trades above the green line of the Super Trend indicator, it signals a bullish trend, indicating that the market is in an uptrend and that buying pressure is dominant.

Moreover, DEXE’s Aroon Up Line at 100% indicates its current uptrend is strong.  The Aroon indicator measures the strength and direction of a trend by analyzing the time since an asset’s recent highs (Aroon Up) and lows (Aroon Down). 

When an asset’s Aroon Up line is at 100%, it indicates that its most recent high was reached very recently. This is true of DEXE, which currently trades at a four-year high.

DEXE Price Prediction: Is an All-Time High on the Horizon?

If this bullish pressure persists and DEXE maintains its uptrend, it could climb to its all-time high of $35.41, which it last reached in March 2021. 

However, DEXE could shed its recent gains and drop toward $17.89 if profit-taking makes a comeback.

According to Satoshi Action Fund CEO Dennis Porter, Utah is leading the race to establish a Bitcoin reserve in the US. Porter claimed that the state’s short legislative calendar encourages speedy action.

Additionally, Utah has a digital asset task force that continues operations outside of the calendar. This task force actively coordinates strategy for a Bitcoin reserve, which rushes into action when the normal schedule resumes.

How Soon Could Utah Establish a Bitcoin Reserve?

The race to establish a Bitcoin reserve has been heating up among 15 US states. President Trump promised to establish such a reserve on the campaign trail, but his “crypto stockpile” executive order fell somewhat short.

Still, there is a fight at the state and federal levels to create a Bitcoin reserve, and Satoshi Action Fund CEO Dennis Porter is betting on Utah being the first.

“There’s a very good shot that Utah will be first because they have such a short legislative calendar. It is only 45 days. It’s either sink or swim in 45 days. No one else has a faster calendar, and no one else has more political momentum and willpower to get it done,” Porter claimed in an interview with Senator Cynthia Lummis.

Wyoming senator Cynthia Lummis is a leading figure in the broader campaign’s federal legislative efforts. However, she concurred with Porter’s assessment that Utah will be the first state with its own Bitcoin reserve, not Wyoming.

Utah has a few advantages in this race that may propel it ahead of several other initiatives. A Utah legislator proposed a Bitcoin reserve in late January, which passed through committee in a little over a week.

Already, this is much speedier than most US states. However, Porter noted another key advantage. The state has maintained a digital asset task force since 2022.

In other words, the state may have a short legislative session, but Representatives can use this task force as a unit to strategize outside of the session.

Utah has been a pro-crypto state for several years now, and its economic policies and guardrails are potentially more prepared for a Bitcoin reserve than any other state. With a quick burst of political willpower, it could deliver on these plans.

These proceedings are looking quite bullish for Bitcoin’s price. Even while other political developments have wrought havoc on the crypto market, legislative efforts like this help conserve BTC momentum.