- Golden cross formed at $0.20 as 50-day MA moved above 200-day MA.
- Current support stands at $0.2250, with resistance near $0.28.
- Latest session closed at $0.2577 after intraday peak of $0.270.
Hedera (HBAR) has recorded a major technical event with the formation of a golden cross. This occurred when the 50-day moving average moved above the 200-day moving average. The crossover took place after a steady climb that began in early July. The uptrend started near $0.12 following a consolidation period and advanced beyond both key averages. The golden cross formed around $0.20, aligning with a shift in the longer-term trend direction.
Price Action and Market Structure
Following the early July rally, an analysis prepared by Merlijn the Trader, HBAR continued trading above both moving averages. The price established a pattern of higher lows and higher highs. A peak formed near $0.28 before a pullback brought the value toward $0.24.
Source: XRecent trading sessions show recovery, with HBAR priced at $0.2677 and a 2.25% daily increase. Both moving averages now slope upward, confirming sustained momentum in the current market phase.
Technical observations identify support near $0.2250, which corresponds to the base created after the crossover. Resistance remains near $0.28, marking the most recent swing high. Price behavior around these levels will determine the next directional move. The maintenance of price above both averages indicates that short-term movement aligns with the broader trend.
Ongoing Trend Development
At the time of press, CoinMarketCap data indicates that Hedera (HBAR) closed the latest session at $0.2577 after a 2% drop over 24 hours. The market recorded $350.98 million in trading volume, representing an 8.55% decrease from prior activity. The session opened near $0.2434 and climbed toward an intraday peak at $0.270. A swift pullback followed, sending the price near $0.256 by midday.
Source: CoinMarketCapLater trading hours showed partial recovery, with the price stabilizing around $0.257. Market capitalization stood at $10.92 billion, reflecting the day’s overall downward movement in valuation. The golden cross has occurred during a period of aligned short-term and long-term upward momentum. Market positioning reflects a continuation of this structure as both moving averages extend higher.
Price movement since the crossover demonstrates sustained buyer activity without breaking below the support base. The current configuration warrants close monitoring of resistance points as HBAR approaches higher targets. Trading activity remains within an active upward phase, and the relationship between price and moving averages supports continued observation of trend developments.
