Hedera began the session by rebounding from its day’s low and forming a tight range that broke to the upside. The breakout was backed by a Golden Cross in MACD, followed by a quick spike and a downward-moving channel. Despite bearish signals, buyers stepped in again, breaking the channel to the upside. This pattern continued throughout the day, with each bearish setup being invalidated and replaced by upward momentum. Repeated Golden Crosses and a rising RSI confirmed buyer strength. Hedera’s structure pointed to a solid uptrend, consistently rejecting downside attempts and sustaining its bullish sequence into the next session. Let’s take a look at the Hedera price analysis to understand the scenario fully.
Hedera Price Analysis of April 23, 2025
After marking the day’s low at $0.16, Hedera spiked to the upside and formed a range. The range broke out to the upside at 05:45 UTC, supported by a Golden Cross of MACD. Price spiked from the Hedera breakout and formed a downward-moving channel. The channel was supported by a Death Cross at 08:20 UTC. The downward-moving channel broke out to the upside at 11:00 UTC, supported by a Golden Cross of MACD. After the breakout, the price spiked to the upside and formed an expanding triangle pattern.
In the meantime, at 13:05 UTC, RSI moved above 70, indicating overbought market conditions and suggesting that there might soon be a reversal or pullback. A range appeared in the price of Hedera, which broke out to the upside at 21:45 UTC, supported by a Golden Cross of MACD. The HBAR price failed to form a proper spike-and-channel pattern. Instead, price formed a converging triangle. The price of Hedera is in an uptrend, visible from every pattern breaking out to the upside, and every attempt to move Hedera to the downside has strongly failed.
Hedera Price Prediction for April 23, 2025
In the early hours of 23rd April, at 00:30 UTC, the price of Hedera broke out from the converging triangle, but the spike did not have follow-through, and the spike was soon followed by an upward-moving channel, marking the high for the day at $0.18. The early breakout of the converging triangle to the downside shows that there might be some bears standing at the level of $0.20, which acts as a psychological level for Hedera. It needs firm conviction to be able to maintain its uptrend. A strong Hedera breakout from its high would suggest that the uptrend is intact, but if the upward-moving channel fails, the HBAR price may soon touch the level of $0.17.
Bulls in Control, But Caution at Resistance
Hedera’s latest breakout from a converging triangle lacked follow-through, but the Hedera price still moved into an upward channel, marking the session high near $0.18. While momentum favours bulls, early signs of exhaustion are visible. Resistance around $0.20 appears to be a psychological ceiling, and further gains may require firm conviction. If the current channel holds, the uptrend remains valid. However, a drop toward $0.17 could follow if the channel fails. With a price structure favouring buyers but facing resistance, the next breakout or rejection will be key in determining short-term direction.
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