Over the past day, the price of Hedera has risen nicely, increasing from $0.194 to $0.215, an increase of over 3%. It briefly reached a high of $0.215 but struggled to maintain that level. Additionally, Hedera’s trading volume has jumped 8.3% in the last 24 hours, reaching $240.5 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. However, the price is now on a minor recovery path. Consequently, its market capitalization has grown by 2.48% to $8.85 billion in the last 24 hours.
HBAR’s Open Interest Surges
Since Trump took over, there’s been a spike in people wanting to buy Hedera (HBAR). However, the recent market crash has put Hbar price under intense bearish pressure.
Over the past 24 hours, there’s been a lot of trading of Hedera, with a strong push from buyers. According to Coinglass, about $476.2K in Hedera trades were wiped out, with $376,500 of that coming from buyers ending their bets on price increases. Sellers ended up losing about $99,690.
Despite this bearish pressure on the price chart, more people are interested in trading Hedera. The open interest, which tracks all the unsettled trading contracts, has increased to $186.3 million, showing a 1.5% surge from yesterday.
With this trend, the market might keep moving up as more traders are betting on price increases compared to decreases. Right now, the long/short ratio is 3.7, suggesting that 79% of traders think Hedera’s price will rise, while 21% think it will drop.
Hedera Price Prediction: Technical Analysis
The HBAR price is recovering as it makes a solid surge toward $0.22. However, bears are strongly defending a sudden push above Fib levels. As of writing, HBAR price trades at $0.213, surging over 3.5% in the last 24 hours.
The HBAR/USDT trading pair continues to struggle below $0.22, indicating strong domination from the bears. This price 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 falls below the EMA20 trend line on the 1-hour chart, the sellers will likely try to push it back down to $0.195 at the downtrend line.
However, with the RSI level continuing to trade above the midline at level 57, it might trigger a retest of the resistance channel. If the price manages to hold above $0.22, it would favor the buyers. The trading pair could then increase to $0.25-$0.28.
Hedera Price Prediction: What to Expect Next?
Short-term: According to BlockchainReporter, Hbar price might continue to struggle below $0.22. If the price moves above $0.22, we might see a trade around $0.25-$0.28. On the down side, $0.195 is the range.
Long-term: According to the current Hedera Hashgraph price prediction on Coincodex, the price of Hedera Hashgraph is expected to rise by 65.75% and reach $0.342612 by March 21, 2025. Technical indicators suggest a Bearish sentiment, and the Fear & Greed Index is currently at 44, indicating Fear. Over the last 30 days, Hedera Hashgraph has experienced 12/30 (40%) green days with a price volatility of 16.74%. Based on this forecast from Coincodex, it is currently considered a poor time to purchase Hedera Hashgraph.
HBAR price is trading at $0.24 at the time of writing. The HBAR price has increased by over 3.6% in the last 24 hours.
Throughout the day, the Hbar price might continue to struggle below $0.22. If the price moves above $0.22, we might see a trade around $0.25-$0.28. On the down side, $0.195 is the range.
According to long-term forecasts, the HBAR price might reach $0.3426 by March 21. This makes HBAR price a good 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.
