Over the last 24 hours, the price of Hbar has been attempting to hold above $0.2; however, it faced bearish pressure and declined. As a result, the price of Hbar recorded a drop of nearly 4.5%, touching the low around $0.19. Additionally, Hedera’s trading volume has dropped 20.6% in the last 24 hours, reaching $493 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 dropped by 2% to $8.48 billion.
HBAR’s Funding Rate Becomes Negative
Hbar price attempted to trigger a surge above $0.2 but failed to meet buyers’ demand. As a result, the price dropped below $0.2 level.
In the last 24 hours, trading activity for Hedera has intensified due to strong selling interest. According to Coinglass, approximately $675K worth of Hedera trades were settled, with buyers liquidating $609K as they pulled back from anticipating further price rises. Meanwhile, sellers faced losses of around $66K.
Amid the aggressive selling, overall market sentiment turned bearish, as indicated by a decline in open interests. The total open interest, which measures unsettled trading contracts, has fallen to $188 million, a decrease of 5.8% from the previous day.
Moreover, the market may be poised for a downward correction, underscored by a negative funding rate. The current funding rate for HBAR stands at -0.0052%, signaling increased dominance of sellers in the market.
Hedera Price Prediction: Technical Analysis
The HBAR price failed to maintain its momentum around the $0.2 mark. As a result, sellers are now triggering significant downward correction. As of writing, HBAR price trades at $0.19, dropping over 4.5% 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 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.
With the RSI level continuing to trade below the midline at level 34, it might trigger a retest of the support channel. If the price manages to hold above $0.176, it would favor the buyers. The trading pair could then increase to $0.2.
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 $0.288. On the down side, $0.176 is the range.
Long-term: According to the latest Hedera Hashgraph price prediction by Coincodex, Hedera Hashgraph’s price is expected to increase by 19.36%, reaching $0.237013 by April 12, 2025. Technical indicators from Coincodex suggest that the current market sentiment is bearish, with the Fear & Greed Index indicating a level of 0, which suggests extreme fear. Over the past 30 days, Hedera Hashgraph has seen 13 green days out of 30, with a price volatility of 8.02%. Based on these forecasts, it is currently considered an unfavorable time to buy Hedera Hashgraph.
HBAR price is trading at $0.19 at the time of writing. The HBAR price has decreased by over 4.5% 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 $0.288. On the down side, $0.176 is the range.
According to long-term forecasts, the HBAR price might reach $0.237 by April 12. 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.
