Hedera (HBAR) Bulls Take Charge As Price Surges 12%

• Hedera (HBAR) price has factored in a 12.51% surge in the last 24 hours. 
• The altcoin’s daily trading volume has shown a 41.91% increase as per CMC data.

The altcoin sector has surprised the crypto community in the past day with significant surges. Meanwhile, Bitcoin dipped to the $94K level while investors expected it to witness a price recovery. Meanwhile, recent activity by North Korean hackers has caused unrest, while the US FBI discovered a connecting link to a past crypto scam. 

Reverting to the altcoin sector, Hedera has shown significant surges in the past day. After several days of bearish performances, HBAR price depicts a 12.51% increase. In the Asian afternoon hours of December 23, the altcoin was trading at a low of $0.2688. 

However, following this, it showed a continuous upward trend and reached current levels. At the time of writing, HBAR was trading at $0.3017 as per CMC data. Moreover, Hedera also hit a 10-day high of $0.3043 during the last 24 hours. 

Secondly, its weekly chart depicts an approximate 6% on the positive end (price increase). This results from increased fluctuations over the last seven days. During the recent market crash, Bitcoin’s dip to the $90K zone and other factors can be seen reflected in HBAR’s price actions. 

Will HBAR Price Sustain Its Recent Surge? 

Inferring, its technical indicators suggest positive predictions for HBAR price. Its Average Directional Index (ADX) stands at 38.83 which is indicative of a very strong trend. This would mean that HBAR can be expected to sustain the positive momentum and stage bull runs in the coming days. 

Meanwhile, the cryptocurrency’s volatility appears to be high as its RVI value lies at 63.67 as per TradingView data. In the case of a bullish sustenance then HBAR might also have to steady its fluctuations for prices to move higher. Finally, in the case of a bull run, it can be expected to face resistance at $0.3061 and $0.3418. 

Other leading altcoins such as SUI and XRP have also shown positive market momentum in the past day. 

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