In the past 24 hours, the price of Hbar has seen a notable recovery rally aiming for $0.2, but it has faced challenges breaking through this level. As a result, Hbar’s price is currently consolidating with a modest increase of 0.9%, reaching a high of $0.1985. Moreover, the trading volume for Hedera has decreased by 4% over the same period, totaling around $318 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 recent hack in Bybit pushed the price toward $0.2. In the last 24 hours, Hedera’s market capitalization has surged by 0.58% to $8.16 billion.
HBAR’s OI Rises Above $166 Million
The Hbar price is experiencing heightened volatility as it hovers around the $0.2 mark, with resistance from bears preventing an upward breakout. Over the last 24 hours, the trading landscape for Hedera has been dynamic, marked by intense interactions between buyers and sellers.
Data from Coinglass reveals that around $300K worth of Hedera transactions were settled during this period. Notably, buyers liquidated $180K in trades, stepping back as expectations for further price increases waned, while sellers incurred losses of approximately $120K.
In this climate of significant volatility, the sentiment towards Hbar has shifted to a more bullish outlook, propelled by an increase in open interests. The total open interest, which tracks the volume of unsettled trading contracts, has climbed by 4.67% to reach $166 million.
Additionally, 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 around EMA trend lines. As of writing, HBAR price trades at $0.192, surging over 0.55% 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 falls below the EMA20 trend line on the 1-hour chart, the sellers will likely try to push it back down to $0.185. A drop from this level might strengthen sellers’ dominance, pushing the price toward $0.176.
However, with the RSI level continuing to trade around the midline at level 48, it might trigger a retest of the resistance channel. If the price manages to hold above $0.2, it would favor the buyers. The trading pair could then increase to $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, $0.185 is the range.
Long-term: According to the latest Hedera Hashgraph price prediction on Coincodex, the price of Hedera Hashgraph is expected to decrease by 6.10% and reach $0.181812 by April 14, 2025. Technical indicators currently show a bearish sentiment, and the Fear & Greed Index is at 46, indicating fear. Over the past 30 days, Hedera Hashgraph has experienced 13 green days, accounting for 43% of the period, with a price volatility of 8.57%. Based on this forecast, it is currently not advisable to purchase Hedera Hashgraph.
HBAR price is trading at $0.192 at the time of writing. The HBAR price has increased by over 0.55% 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, $0.185 is the range.
According to long-term forecasts, the HBAR price might reach $0.181 by April 14. 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.
