In the past 24 hours, the price of Hbar has seen a strong bearish rally as it declines toward the immediate support channel. As a result, Hbar’s price is currently on a downward trend with a drop of 3.4%, reaching a low of $0.1843. Moreover, the trading volume for Hedera has decreased by 38% over the same period, totaling around $205 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 4.7 % to $7.71 billion.
HBAR’s OI Drops Below $160 Million
The Hbar price is experiencing downward volatility as it heads toward the low of $0.18, with resistance from bears preventing an upward breakout.
Data from Coinglass reveals that around $178.5K worth of Hedera transactions were settled during this period. Notably, buyers liquidated $151K in trades, stepping back as expectations for further price increases waned, while sellers incurred losses of approximately $27.5K.
In this climate of bearish volatility, the sentiment towards Hbar has shifted to a more bearish outlook, triggered by a drop in open interests. The total open interest, which tracks the volume of unsettled trading contracts, has declined by 3.9% to reach $158 million.
However, the market conditions suggest a potential upward correction might be on the horizon, boosted by a positive funding rate. The current funding rate for HBAR is at +0.006%, indicating a growing dominance of buyers, which could steer the market upward.
Hedera Price Prediction: Technical Analysis
The HBAR price is struggling to move above the crucial $0.2 mark due to increasing domination from sellers. As a result, Hbar price is consolidating below EMA trend lines, aiming to drop below $0.18. As of writing, HBAR price trades at $0.183, dropping over 3.5% in the last 24 hours.
The HBAR/USDT trading pair is struggling to approach the immediate resistance line at $0.2. This level could be a major obstacle as STHs might continue to liquidate here. However, buyers might soon break above that level as demand surges.
If the price holds below the EMA20 trend line on the 1-hour chart, the sellers will likely try to push it back down to $0.18. A drop from this level might strengthen sellers’ dominance, pushing the price toward $0.17.
On the other hand, if Hbar price moves above EMA trend lines, we might see a recovery toward the descending resistance line. A push above that level could send the price above $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 the latest Hedera Hashgraph price prediction from Coincodex, the price of Hedera Hashgraph is expected to rise by 0.80% and reach $0.188846 by April 17, 2025. Technical indicators from Coincodex suggest that the current market sentiment is Bearish, and the Fear & Greed Index is at 34, categorized as Fear. Over the past 30 days, Hedera Hashgraph has experienced 14 out of 30 green days, with a price volatility of 9.26%. Based on this forecast, it is currently considered a bad time to buy Hedera Hashgraph.
HBAR price is trading at $0.183 at the time of writing. The HBAR price has dropped by over 3.5% 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 $0.188 by April 17. 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.
