- The current price of Hedera is $0.06607 with a gain of 1.06% during the last intraday trading session.
- The HBAR/BTC pair is trading at 0.000002193 BTC with a drop of 5.04% in the last 24 hours.
- The HABR price is moving below the 200 days of DMA and is above the 20,50,100 days of EMA.
If Hedera gets a reversal, the bears might push the price to follow the downward trend. The HBAR might get influenced by the sellers when the buyers try to give an upward momentum. The HBAR was under bullish dominance from the start of the 2023 financial year. The HBAR previously saw a dip, but the bulls brought an upward momentum. As such, the coin might now follow a downward trend.
HBAR is presently trading at $0.06607, gaining almost 1.06% during the intraday trading session. If the coin develops a bullish trend, the price may face the primary resistance level at $0.0917, and it might reach the secondary resistance of $0.1157. If the bulls abandon it, the price may fall to the primary support level of approximately $0.0570. And it might drop to the secondary support of $0.0356. The bulls must work hard to build some upward momentum, but their inaction is making things difficult for the investors.
The volume of the HABR increased by 8.78% in the last 24 hours. The increase in the volume of the HBAR shows that the buyers might hold a grip over the HBAR. The volume-to-market cap ratio is 0.0206.
The Technical Analysis of HBAR
Technical indicators show that the RSI is neutral. The sellers dragged the RSI from the overbought zone. The current RSI is 49.46 and the average RSI is 52.41 and the RSI might move to the oversold zone. The MACD and MACD signal have intersected giving a negative crossover. The HABR price is moving below the 200-day of Daily Moving Average and is above the 20,50,100 days of Exponential Moving Average.
Conclusion
The bears might influence the Hedera price and the coin may follow a downward trend. However, the increase in volume by 8.78% in the last 24 hours suggests that buyers may be holding a grip over the coin. The MACD and MACD signal intersected with a negative crossover. The RSI is neutral at 49.46, but it may move toward the oversold zone.
Technical Levels
Support Levels: $0.0570 and $0.0356
Resistance Levels: $0.0917 and $0.1157
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas 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/2023/04/12/hedera-price-prediction-will-the-bearish-trend-return/