Over the last 24 hours, the price of Hbar has been witnessing a strong recovery rally toward $0.26, flashing a surge of around 5%. It briefly reached a high of $0.2646 as buyers increased domination. Additionally, Hedera’s trading volume has dropped 4.93% in the last 24 hours, reaching $890 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 grown by 5.4% to $10.64 billion.
HBAR’s Funding Rate Becomes Negative
HBAR price has been surging strongly following an intense buying demand around dip. Hbar price is now aiming for a smooth recovery rally toward $0.3 if buying pressure remains high.
Over the past 24 hours, there’s been a lot of trading of Hedera due to a strong push by the buyers. According to Coinglass, about $2.39 million in Hedera trades were wiped out, with $745.5K of that coming from buyers ending their bets on price increases. Sellers ended up losing about $1.64 million.
Amid the ongoing recovery rally, the number of open interests is surging. The open interest, which tracks all the unsettled trading contracts, has surged to $207 million, showing a 13.4% increase from yesterday.
However, the market might face a downward correction as the funding rate is negative. Currently, the funding rate for Hbar is at 0.0052%, suggesting the rising selling domination on the chart.
Hedera Price Prediction: Technical Analysis
The HBAR price is recovering as it makes a solid surge toward $0.26. Currently, buyers are aiming for a hold above EMA trend lines. As of writing, HBAR price trades at $0.2551, surging over 5.49% in the last 24 hours.
The HBAR/USDT trading pair is approaching the immediate resistance line at $0.288. 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 $0.21.
However, with the RSI level continuing to trade around the midline at level 52, it might trigger a retest of the resistance channel. If the price manages to hold above $0.288, it would favor the buyers. The trading pair could then increase to $0.33.
Hedera Price Prediction: What to Expect Next?
Short-term: According to BlockchainReporter, Hbar price might aim for $0.288. If the price moves above $0.288, we might see a trade around $0.33. On the down side, $0.21 is the range.
Long-term: According to the current Hedera Hashgraph price prediction on Coincodex, the price of Hedera Hashgraph is expected to increase by 62.33% and reach $0.417259 by April 4, 2025. Coincodex’s technical indicators suggest that the current market sentiment is Neutral, while the Fear & Greed Index indicates a level of 20, representing Extreme Fear. Over the last 30 days, Hedera Hashgraph has experienced 14/30 (47%) green days with a price volatility of 7.73%. Based on this forecast, it is currently a favorable time to purchase Hedera Hashgraph.
HBAR price is trading at $0.2551 at the time of writing. The HBAR price has increased by over 5.49% in the last 24 hours.
Throughout the day, the Hbar price might aim for $0.288. If the price moves above $0.288, we might see a trade around $0.33. On the down side, $0.21 is the range.
According to long-term forecasts, the HBAR price might reach $0.417 by April 4. 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.
