In the past 24 hours, the price of Hbar has seen a strong bullish rally as it surges toward the immediate resistance channel at $0.2. However, it faced a rejection and dropped, with a decline of 2%, reaching a low of $0.187. Moreover, the trading volume for Hedera has increased by 22% over the same period, totalling around $286 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 dropped by 2% to $8.07 billion.
HBAR’s OI Surges Despite Bearish Pressure
The price of Hbar is showing increased volatility as it nears a potential peak of $0.2. Despite this, a strong bearish defense has prevented a breakthrough, with the price being pushed back from $0.2 and falling below the 23.6% Fibonacci retracement level. According to recent data from Coinglass, around $235.5K worth of Hedera transactions were processed during this tumultuous period. Of this, buyers liquidated $145K worth of trades amid fading optimism for further price increases, while sellers incurred losses of about $90K.
Amidst this market turbulence, the open interest in Hedera has increased by 4.5% in the last 24 hours, totalling $176.6 million. This rise in open interest—a measure of unsettled trading contracts—indicates a surge in trading activity.
Moreover, market indicators suggest an impending upward correction. The positive funding rate of +0.0019% for HBAR points to a strengthening influence of buyers, which could potentially send the market higher.
Hedera Price Prediction: Technical Analysis
HBAR’s price is currently experiencing a vigorous surge toward the pivotal $0.2 mark. Yet, resistance at this level has been formidable, with bears effectively blocking any advance above it and driving the price down to $0.18. At the moment, HBAR is trading at $0.188, reflecting a decline of over 2.5% in the last 24 hours.
The HBAR/USDT pair is finding it challenging to reach the immediate resistance at $0.2, a critical barrier where short-term holders (STHs) might opt to sell off their positions. Despite this, there’s a possibility that increased demand could enable buyers to eventually surpass this threshold.
Should the price remain below the EMA20 trend line on the 1-hour chart, it’s likely that sellers will attempt to drive it further down to $0.18. A further decline from this point could solidify the sellers’ control, potentially pushing the price down to $0.17.
Conversely, if HBAR maintains its position above the EMA trend lines, the coin might rally toward $0.2 again. Successfully breaking above this level could send HBAR’s price to exceed $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 Hedera Hashgraph price prediction, the price of Hedera Hashgraph is expected to decline by -3.54%, potentially reaching $0.186769 by April 19, 2025. Technical indicators from Coincodex suggest a Bearish sentiment at present, while the Fear & Greed Index stands at 49, indicating Neutral conditions. Over the last 30 days, Hedera Hashgraph has seen 15 green days, accounting for 50% of the time, with a price volatility of 9.78%. Given these forecasts and market conditions, it is currently deemed inadvisable to purchase Hedera Hashgraph.
HBAR price is trading at $0.188 at the time of writing. The HBAR price has dropped by over 2.5% in the last 24 hours.
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.
According to long-term forecasts, the HBAR price might reach $0.186 by April 19. 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.
Source: https://blockchainreporter.net/hedera-hbar-price-for-march-20/