Hedera’s HBAR has bucked the broader market dip to record a slight 1% rally over the past 24 hours. As of this writing, the altcoin trades at $0.17.
This upward movement comes amidst signs of a resurgence in new demand for the altcoin, as highlighted by key technical indicators on the daily chart.
HBAR Bullish Trend Gains Strength
Readings from HBAR’s Moving Average Convergence Divergence (MACD) reveal that on April 9, the token’s MACD line (blue) climbed above its signal line (orange), forming a “golden cross.”
A golden cross occurs when the MACD line crosses above the signal line, signaling a potential bullish trend and increased buying pressure. This confirms that HBAR’s upward momentum is gaining strength, especially as investors commonly view this pattern as a buy signal.
Moreover, as of this writing, HBAR’s Relative Strength Index (RSI) is poised to break above the 50-neutral line, highlighting the spike in fresh demand for the altcoin. It is currently at 49.17 and remains in an uptrend.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.
At 49.17 and climbing, HBAR’s RSI signals a gradual shift from bearish territory into a more neutral zone. If the altcoin’s RSI continues to rise above 50, it would signal increasing bullish sentiment, driving up HBAR’s value.
HBAR Eyes $0.19 Amid Strong Buying Pressure
HBAR’s surge over the past day has pushed its price above the key resistance formed at $0.16, which has kept the token in a downtrend since March 30.
With growing buying pressure, the token could flip this zone into a support floor. If successful, it could propel HBAR’s price to $0.19.
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee—you’ll need it. The financial market became much more unpredictable due to creeping inflation, political power plays, and market jitters. As the Federal Reserve (Fed) holds steady, new reports suggest the next big shift may come not from data, but from Donald Trump.
Crypto News of the Day: US Inflation Rises While Spending Slips
The Fed’s preferred inflation gauge, PCE (Personal Consumption Expenditures), rose in May. According to the latest data, the Core PCE Price Index rose 0.2% month-over-month (MoM) and 2.7% year-over-year (YoY), slightly above forecasts.
Headline PCE came in as expected, rising 0.1% on the month and 2.3% YoY
*US MAY PCE PRICE INDEX RISES 0.1% M/M; EST. +0.1% *US MAY CORE PCE PRICE INDEX RISES 0.2% M/M; EST. +0.1% *US MAY PCE PRICE INDEX RISES 2.3% Y/Y; EST. +2.3% *US MAY CORE PCE PRICE INDEX RISES 2.7% Y/Y; EST. +2.6%
Further, signs of weakening consumer momentum emerged as personal income fell 0.4%. Meanwhile, real personal spending declined 0.3%. Both of these US economic indicators missed forecasts, reflecting softening economic conditions.
*US MAY PERSONAL INCOME FALLS 0.4% M/M; EST. +0.3% *US MAY PERSONAL SPENDING FALLS 0.1% M/M; EST. +0.1% *US MAY REAL PERSONAL SPENDING FALLS 0.3% M/M; EST. +0.0%
While these inflation numbers reinforce the Fed’s cautious stance, political drama overshadows them. The growing possibility that President Donald Trump could soon install a MAGA-aligned Federal Reserve chair continues to shake financial markets.
Trump vs. Powell: Markets eye MAGA-friendly Fed Reshuffle
In his recent testimony before the Senate Banking Committee, Fed chair Jerome Powell said he expects inflation to increase this summer because of the Trump administration’s tariffs.
Meanwhile, reports indicate that Trump is considering replacing Powell with a loyalist as early as this summer.
There is deep momentum in Washington building for Jerome Powell’s resignation.
While his term ends in May 2026, the move would undercut Powell’s final year in office, potentially injecting political risk into an institution long prized for its independence.
The political maneuvering triggered a sharp reaction in the currency markets, sending the US dollar to a three-year low. The dip comes amid fears of a politicized monetary policy environment ahead of 2026.
In recent weeks, he’s called Powell the “WORST” and a “dummy” who is “costing America $Billions.” Behind closed doors, insiders say Trump is vetting candidates who would be “unstintingly loyal” and willing to implement rate cuts aligned with his economic agenda.
Reacting to the news, the US Dollar Index (DXY) is trending lower, revisiting levels last seen in 2022.
As inflation reawakens and spending slows, markets grapple with a new risk: that monetary policy could once again be steered by political loyalty rather than economic logic.
Chart of the Day
US Dollar Index (DXY) drops to a 3-year low. Source: TradingView
Byte-Sized Alpha
Here’s a summary of more US crypto news to follow today:
Coinbase announced that it is delisting MOVE, which subsequently plunged over 16%. The exchange did not describe any specific reasoning for this action, leading community speculation to flourish.
New evidence alleges that Movement Labs was directly or indirectly involved in a market maker dumping 66 million MOVE tokens. Coinbase may have lost confidence in the project between those rumors and a delayed airdrop.
In addition to this 16% price drop, MOVE’s daily trading volume surged 130%. This suggests that MOVE holders are selling their assets after Coinbase’s delisting announcement.
MOVE Price Crashes After Coinbase Delisting. Source: TradingView
This is a serious blow to Movement Network’s credibility and reputation. The project showed significant potential and even outperformed Bitcoin and Ethereum during the Q1 2025 cycle. It also raised $100 million in VC funding earlier this year, backed by notable investors.
However, Coinbase’s delisting is not unfounded. Earlier today, Movement Labs announced that a planned airdrop was being delayed, helping spark frustration. That may have been the final straw for Coinbase, on top of pre-existing problems.
From a perspective of someone who’s been building on Movement since day one — before mainnet, before the hype, before the community we have today even existed:
Specifically, Movement Labs claimed it would investigate an instance of potential fraud in mid-March. A market maker dumped 66 million MOVE tokens, triggering a sharp price drop.
New evidence has come to light, leading users to allege that Movement Labs was directly or indirectly complicit in these dealings. The company allegedly loaned 50% of MOVE’s supply to investment platform Web3Port, which proceeded to dump a large volume of tokens.
Based on these incidents, the community fears a repeat of MANTRA’s historic OM crash. Meanwhile, Movement Labs is backed by the Trump Family’s World Liberty Financial. The DeFi project holds more than 7 million MOVE tokens.
