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.

BNB has found its footing at the $605 support level, sparking optimism for a potential recovery. Following recent bearish pressure, the bulls appear to be regrouping, aiming to regain control and push the price higher. With key technical indicators signalling renewed buying interest, market participants are closely watching whether this support will serve as the launchpad for BNB’s next rally.

As BNB shows encouraging signs of revival, this article aims to delve into its rebound from the $605 support level and evaluate its capacity for a sustained recovery. By analyzing market trends, technical indicators, and key resistance levels, we seek to determine whether BNB is positioned for a fresh, bullish run or still faces the risk of renewed bearish pressure.

Technical Indicators Signal A Potential Rebound

On the 4-hour chart, BNB is currently exhibiting a steady upward trajectory despite trading below the 100-day Simple Moving Average (SMA). After rebounding strongly from the critical $605 support level, the asset is making strides to extend its gains, aiming toward the $635 resistance zone. A successful breach above the 100-day SMA could further validate its recovery, potentially opening the door to higher levels.

Also, the 4-hour Relative Strength Index (RSI) has rebounded to 42% from a low of 35%, signaling a resurgence in buying pressure and a shift toward a more bullish market sentiment. If the RSI rises and approaches 50%, it could confirm its upside movement, giving BNB the strength to push higher and test resistance levels.

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BNB is showing strong upward movement on the daily timeframe, holding above the 100-day SMA after a rebound at the $605 support level. This has provided stability, enabling the cryptocurrency to advance toward the $635 resistance level. The price movement indicates a growing optimistic sentiment as BNB trades above key technical levels.

Furthermore, the daily RSI has risen above 50% after briefly dropping below it, signaling a shift to positive market sentiment. With bearish momentum subsiding, this suggests that buying pressure is stronger than selling pressure. If the RSI continues to rise, it could further support BNB’s upswing and strengthen the positive trend, possibly leading to a continued rally, targeting higher resistance levels.

Analyzing Key Resistance Targets For BNB Next Move

Following its rebound from the $605 support level, BNB is targeting the $635 resistance level, which could serve as a key obstacle. Should the cryptocurrency successfully break through this resistance, the next targets could be higher zones, such as the $724 level and beyond, signalling robust bullish momentum.

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However, if BNB fails to break through the $635 resistance, it may indicate a potential consolidation or reversal, with the price falling toward the $605 support level. A successful break below this support could lead to more declines, targeting lower support levels.

Featured image from iStock, chart from Tradingview.com