In the past 24 hours, the price of Hbar attempted to surge above $0.2 but faced a rejection.
Hbar recorded a gain of 5.8%, reaching a high of $0.195. Moreover, the trading volume for Hedera has surged by 37% over the same period, totaling around $212.81 million.
Looking at a longer timeline, Hedera’s price dropped below $0.39 on December 3 and has been decreasing since then. On February 3, the price of HBAR crashed heavily as it dropped below $0.2. Additionally, the hack in Bybit pushed the price below $0.2. In the last 24 hours, Hedera’s market capitalization has increased by 5.6% to $8.17 billion.
HBAR’s Funding Rate Stays Positive Amid Bullish Attempts
Hedera (HBAR) is experiencing increased upward volatility as it approaches the critical $0.2 level, with sellers working to keep the price beneath Fibonacci channels.
Recent data from Coinglass reveals that $338,000 worth of Hedera transactions occurred during this unstable period. Out of this, buyers liquidated $179,000 in trades due to diminishing hopes for price increases, while sellers faced losses totaling $159,000.
Amid these bullish market conditions, Hedera’s open interest has surged by 3.5% in the past 24 hours, amounting to $198.5 million. This surge in open interest, a gauge of unresolved trading contracts, signals a rise in trading activity.
Additionally, market indicators point to a likely upward correction soon. The positive funding rate of 0.0095% for HBAR indicates a growing dominance of buyers, potentially driving the market higher.
Hedera Price Prediction: Technical Analysis
HBAR is currently facing significant bearish pressure as it attempts to surge above $0.2. The $0.2 mark has established itself as a crucial resistance level, with bears successfully preventing any upward movement beyond this point and pushing the price toward the immediate support levels. Currently, HBAR is trading at $0.192, having surged by more than 4% in the last 24 hours.
The HBAR/USDT pair struggles to overcome the immediate resistance at $0.2, a critical point where short-term holders may choose to offload their holdings. Despite these challenges, there remains a possibility that increased buying pressure could help buyers breach this barrier eventually.
If the price holds below the EMA20 line on the 1-hour chart, it is likely that sellers will push it down further towards $0.18. A continued decline from this level could strengthen the sellers’ grip, potentially driving the price down to $0.17.
On the flip side, if HBAR manages to stay above the EMA trend lines, there could be a potential rally back to the $0.2 mark. Breaking above this resistance could pave the way for the price to climb past $0.21.
Hedera Price Prediction: What to Expect Next?
Short-term: According to BlockchainReporter, Hbar price might aim for $0.2. If the price moves above $0.2, we might see a trade around $0.21. On the down side, $0.18 is the range.
Long-term: According to Coincodex’s current Hedera Hashgraph (HBAR) price prediction, the cryptocurrency is expected to decrease by approximately 5.53%, reaching a price of $0.181703 by April 23, 2025. Coincodex’s technical indicators currently show a bearish sentiment, while the Fear & Greed Index stands at 45, indicating “Fear.” Over the past 30 days, Hedera Hashgraph recorded 14 green days out of 30 (47%), accompanied by price volatility of 10.77%. Based on this analysis, Coincodex suggests it is currently not a good time to purchase Hedera Hashgraph.
How much is Hedera price today?
HBAR price is trading at $0.192 at the time of writing. The HBAR price has surged by over 4% in the last 24 hours.
What is the Hedera price prediction for March 24?
Throughout the day, the Hbar price might aim for $0.2. If the price moves above $0.2, we might see a trade around $0.21. On the down side, $0.18 is the range.
Is Hedera a Good Buy Now?
According to long-term forecasts, the HBAR price might reach $0.181 by April 23. This makes HBAR price a bad investment considering its monthly yield.
Investment Risks for HBAR
Investing in Hedera can be risky due to market volatility. Investors should:
- Conduct technical and on-chain analysis.
- Assess their financial situation and risk tolerance.
- Consult with financial advisors if necessary.