The price of Hedera (HBAR) has skyrocketed, climbing roughly 30% in the last 24 hours and over 115% in the past seven days. This explosive growth is backed by strong technical indicators, with the ADX signaling a strengthening trend and the Ichimoku Cloud chart confirming bullish momentum.

HBAR’s price action suggests it could be gearing up for further gains, with resistance levels at $0.14 and $0.182 in sight. However, if the uptrend loses strength, support zones at $0.098 and $0.068 will play a crucial role in determining the next direction for HBAR.

HBAR Current Uptrend Is Strong

HBAR’s ADX has surged to 42.47 from around 17 in just one day, signaling a rapid strengthening of the ongoing trend. This sharp rise indicates that HBAR is transitioning from a weak or uncertain trend into a strong, clearly defined uptrend after the recent price surge.

Such a high ADX value reflects significant momentum behind the price movement, suggesting that the current uptrend is likely to continue in the near term.

The ADX, or Average Directional Index, measures the strength of a trend on a scale from 0 to 100 without indicating the trend’s direction.

Values below 20 signify weak trends, while values above 25 suggest a strong trend. Hedera ADX at 42.47 clearly indicates a strong uptrend, implying that buying momentum is accelerating.

Ichimoku Cloud Shows a Bullish Setup for Hedera

The Ichimoku Cloud chart for HBAR shows a sustainable uptrend, with the price breaking well above the cloud (Kumo), confirming the start of a bullish trend. The green cloud ahead suggests solid support, reinforcing the likelihood of continued upward momentum.

The current price action suggests that HBAR is maintaining its strength above critical levels, with the cloud providing a safety net for potential pullbacks.

The Tenkan-sen (conversion line) is above the Kijun-sen (baseline), another positive signal reflecting strong short-term momentum. The Chikou Span (lagging line) is also positioned well above the price, further validating the strength of this trend.

Together, these elements align to suggest that HBAR’s momentum is strong, with the potential for continued price gains if the current trend holds.

HBAR Price Prediction: A New 53% Price Surge?

If the current uptrend continues, HBAR price could test its nearest strong resistance at $0.14, which would be its highest price since March. A successful breakout above this level could pave the way for further gains, potentially reaching $0.182, representing a substantial 54% increase from current levels.

This bullish scenario aligns with the strong momentum indicated by recent technical signals.

On the other hand, if the trend reverses, HBAR could face a pullback toward its first support at $0.098. If this level fails to hold, the price could drop further to $0.068.

Polygon whales have accumulated an additional $65 million worth of tokens in the past seven days, coinciding with a 12% price increase for the POL token over the last 30 days. This surge has reignited optimism that the altcoin, formerly known as MATIC, might recover some of its recent losses.

However, some investors remain cautious, speculating that the current buying pressure might not suffice to sustain the momentum. Here’s an in-depth analysis of the situation.

Polygon Stakeholders Add 113 Million Tokens to Their Holdings

On November 11, addresses holding between 10 million and 100 million POL tokens in their wallet collectively owned 695.38 million tokens. Today, that figure has surged to 852.14 million, showing that Polygon whales have accumulated over 113 million tokens in the past seven days.

At the current price of the altcoin, this accumulation is valued at approximately $65 million. Typically, when crypto whales buy, it is a sign that a cryptocurrency’s value could climb. This also encourages retail investors to accumulate, putting more upward pressure on the price.

Conversely, when crypto whales sell, it often signifies bearish sentiment, suggesting that the token’s value may struggle to gain momentum. For the POL token, however, the recent whale accumulation is a bullish indicator. If this trend continues, the token’s price could climb above $0.42 in the near term.

Additionally, the increase in whale accumulation aligns with growing bullish dominance, as highlighted by IntoTheBlock’s Bulls and Bears indicator. This metric tracks the activity of investors who bought (bulls) at least 1% of the total trading volume versus those who sold (bears) a similar amount.

When bears outnumber bulls, it often signals potential price declines. However, for the Polygon ecosystem token, the bulls currently outpace the bears, indicating a stronger likelihood of a short-term price increase for the altcoin.

POL Price Prediction: Pattern Turns Bullish

A look at the 4-hour timeframe shows that the POL/USD chart has formed an inverse head-and-shoulders pattern. An inverse head-and-shoulders pattern is a technical pattern that indicates a potential reversal from a downtrend to an uptrend.

The first trough marks the initial phase of the downtrend. The deepest trough is lower than both the left and right shoulders, while the third and final trough mirrors the left shoulder in-depth but is higher than the head.

Considering this current outlook, POL’s price could rise to $0.45 in the short term. If Polygon whales continues to buy in large volumes, this altcoin’s price might climb toward $0.60. 

However, if these crypto whales decide to sell some of their holdings, this prediction might be invalidated. In that case, the Polygon token price could decline to $0.38.

A crypto analyst has noted that XRP has finally broken out of its long consolidation phase, signaling the onset of a major price rally. He further predicts that the XRP price is on the verge of ending an 11-year SuperCycle, which could pave the way for a surge to $3.4 once finalized. 

SuperCycle To Trigger $3.4 Surge 

Skyrexio, a TradingView crypto analyst, has released an XRP price analysis, forecasting a possible increase to $3.4. In the chart analysis, Skyrexio disclosed that XRP has recently broken out of its four-year consolidation period, potentially signaling the start of a bullish uptrend.

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Unsurprisingly, the total duration of the consolidation period coincides with the number of years XRP has been involved in a legal battle with the United States Securities and Exchange Commission (SEC). Following the lawsuit, the XRP price crashed significantly, staying range-bound for years as it struggled with legal and regulatory challenges.

Notably, Skyrexio’s bullish forecast for the XRP price relies on the Elliott Wave Theory, a technical indicator that predicts price movements of an asset by identifying recurrent long-term price patterns. The analyst noted that XRP’s first Elliott Wave began in 2013, almost 11 years ago. After that, the cryptocurrency experienced a price correction, followed by the legendary Wave 3. 

Over the last three years, the price of XRP had been trading sideways, failing to experience gains that would push its price significantly above the $0.5 mark. Skyrexio has revealed that this prolonged sideways movement can be interpreted as a corrective triangle pattern in Wave 4.

The analyst revealed that XRP has successfully broken out of this triangle pattern, signaling the end of its correction phase. He suggests that the cryptocurrency is now in Wave 5, the last wave of its first global SuperCycle.

Based on XRP’s Elliott Wave analysis, Skyrexio has outlined two bullish targets for the XRP price. The analyst forecasts that XRP could rise between $2.5 and $3.8 at the end of this SuperCycle. He emphasized that the higher price target at $3.8 is more likely to be achieved, as historical data shows that in 90% of cases, Wave 5 experiences a higher high than Wave 3.

Concluding his analysis, Skyrexio pointed out key bullish indicators on his price chart, including a bullish reversal bar and green dot at the end of Subway C. He suggested that these bullish signs, appearing on the monthly time frame, are strong indicators of a potential upward move that could drive the XRP price to its final bullish target. 

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Update On XRP Price Dynamics 

The XRP price has achieved a monumental milestone for the first time in years. In just one week, the cryptocurrency rallied by 101.77%, experiencing significant price gains following Donald Trump’s win in the US presidential elections this month. 

Earlier this year, the price of XRP was stuck in the $0.5 range, experiencing slight gains but unable to break past this critical resistance level. Now, the cryptocurrency has doubled its price and is trading above $1, a historic feat that has caught the attention of the broader crypto community. As of writing, XRP has gained another 10.1% and is priced at $1.16, according to CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com