Over the last 24 hours, the price of Hbar has been witnessing a strong bearish rally around $0.2. The price initially dropped below $0.2; however, it faced a minor buying demand later. As a result, the price of Hbar recovered toward $0.2 though it recorded a drop of nearly 5.5%, touching the low around $0.178. Additionally, Hedera’s trading volume has surged 22.5% in the last 24 hours, reaching $560 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 consolidated the price below $0.2. In the last 24 hours, Hedera’s market capitalization has dropped by 4.51% to $8.43 billion.
HBAR’s Funding Rate Touches Negative
The prevailing bearish mood in the cryptocurrency market has pushed the HBAR price to hover around the $0.2 level, struggling to establish any bullish momentum. Over the past 24 hours, trading volumes for Hedera spiked, driven by significant buyer interest.
Coinglass data shows that around $1.8 million worth of Hedera transactions were settled, with $1.6 million originating from buyers who then scaled back their positions in anticipation of potential price declines. Sellers, on the other hand, incurred losses of approximately $188K.
Despite some aggressive purchases at lower prices, the overall market sentiment for Hedera remains bearish. This sentiment is reflected in the total open interest for Hedera, which tracks unsettled trading contracts. This figure has dropped by 5.8% to $141 million, indicating a waning trader commitment. Furthermore, a negative funding rate of -0.0052% for HBAR suggests that seller pressure is intensifying, possibly leading to a downward price correction soon.
Hedera Price Prediction: Technical Analysis
The HBAR price has been under strong bearish pressure as it dropped toward the low of $0.178. However, buyers are now attempting to hold the price above $0.2 as they aim for an upcoming recovery. As of writing, HBAR price trades at $0.2, dropping over 5.4% in the last 24 hours.
The HBAR/USDT trading pair is struggling to approach the immediate resistance line at $0.217. 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 continues to hold below the EMA20 trend line on the 1-hour chart, the sellers will likely try to push it back down to $0.176.
However, with the RSI level continuing to trade below the midline at level 38, it might trigger a retest of the support channel. However, if the price manages to hold above $0.217, it would favor the buyers. The trading pair could then increase to $0.288.
Hedera Price Prediction: What to Expect Next?
Short-term: According to BlockchainReporter, Hbar price might aim for $0.217. If the price moves above that level, we might see a trade around $0.288. On the down side, $0.176 is the range.
Long-term: According to Coincodex’s current Hedera Hashgraph price prediction, the price of Hedera Hashgraph is expected to increase by 20.26% and reach $0.240952 by April 10, 2025. Coincodex’s technical indicators suggest that the current market sentiment is bearish, while the Fear & Greed Index indicates a level of 24, showing extreme fear. Over the past 30 days, Hedera Hashgraph has had 12 green days out of 30, with a price volatility of 7.57%. Based on this Hedera Hashgraph forecast, it is currently not advisable to invest in Hedera Hashgraph.
HBAR price is trading at $0.2 at the time of writing. The HBAR price has increased by over 5.4% in the last 24 hours.
Throughout the day, the Hbar price might aim for $0.217. If the price moves above that level, we might see a trade around $0.288. On the down side, $0.176 is the range.
According to long-term forecasts, the HBAR price might reach $0.24 by April 10. 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.
