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Hedera price prediction suggests a significant increase in value is possible in the coming months. - 2
HBAR crypto price managed to climb above the 200-day EMA. - 3
Hedera price surges 13% in the last 24 hours and positive momentum is still intact.
Hedera price prediction suggests a sharp rise is possible in the coming months. It turns bullish for the short term as well as for the long term. HBAR crypto price rose upward by forming higher high swings and displayed a bullish continuation pattern.
Hedera price is in recovery mode and buyers seem to be returning back to track. Hedera crypto holds the price above the 50-day EMA and also managed to climb above the 200-day EMA. It showcases the uptrend and presence of buyers at the lower levels.
At the beginning of August, HBAR price took support near $0.0500 and witnessed spikes in the buying volume. It positively impacted the price and rallied 25% in just one week.
The 50-day EMA is reversing upward and may generate a golden crossover. If it happens then more upward momentum is possible. Hedera Price is trading at $0.0646 with an intraday rise of 13.53%. The 24-hour volume to market cap is 5.12%.
The pair of HBAR/BTC is trading at 0.00000218 with an intraday rise of 12.89%. The chart looks similar to the USDT pair and buyers seem to be getting active on both pairs.
Will Hedera Price outperform in the coming months?
Hedera price prediction suggests the recovery is likely to continue in the coming months. The crypto leaders, BTC and ETH prices are also recovering which might positively impact the HBAR crypto.
Till the HBAR price sustains above the $0.0500 level the crypto is expected to remain in a bullish grip. Therefore, any short-term down move will be easily absorbed by the buyers near the support levels.
Moreover, if the buyers are able to hold the recent gains then 15% to 20% more upside is possible. The technical analysis suggests, the HBAR price is in bulls’ grip and might show outperformance in coming months.
HBAR Price Bullish on Weekly Time Frame
HBAR price formed a strong bullish candle on the weekly time frame. The support levels are shifting higher which shows the dominance of bulls.
The MACD curve slopes upward and sustains above the zero line. It indicates bullishness and prices are likely to continue the positive momentum.
The RSI at 68 pointing north denotes the strength of bulls and more room for upside is open. HBAR price is sustained above the supertrend buy line which also favors the bulls.
Conclusion
Hedera price prediction has turned bullish and suggests the recovery is likely to continue in the coming months.
HBAR price formed a bullish continuation pattern and seems like buyers are returning back to track. Therefore, HBAR crypto might become a good choice for long-term pick.
Technical levels
- Resistance levels: $0.0779 and $0.0900
- Support levels: $0.0500 and $0.0400
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/08/14/hedera-price-prediction-is-hbar-crypto-good-for-the-long-term/