Over the last 24 hours, the price of Hbar has been witnessing a strong recovery rally toward $0.2; however, it is struggling to make a breakthrough. As a result, the price of Hbar declined and recorded a drop of nearly 1.4%, touching the low around $0.1843. Additionally, Hedera’s trading volume has dropped 22% in the last 24 hours, reaching $331 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 1.4% to $8.11 billion.
HBAR’s Funding Rate Remains Positive
Hbar price has been facing increasing volatility around $0.2 as it attempts to surge above that level. However, bears are defending a surge in the price chart.
In the last 24 hours, trading activity for Hedera has intensified due to strong domination by buyers and sellers. According to Coinglass, approximately $483K worth of Hedera trades were settled, with buyers liquidating $411 as they pulled back from anticipating further price rises. Meanwhile, sellers faced losses of around $72K.
Amid the intense volatility, overall market sentiment for Hbar has turned bullish, as indicated by a surge in open interests. The total open interest, which measures unsettled trading contracts, has risen to $159 million, an increase of 4.8% from the previous day.
Moreover, the market may be poised for an upward correction, underscored by a positive funding rate. The current funding rate for HBAR stands at +0.008%, signaling increased dominance of buyers in the market.
Hedera Price Prediction: Technical Analysis
The HBAR price recovered as it made a solid surge toward $0.2. However, it failed to surge further as bears strongly defended the $0.2 level. As of writing, HBAR price trades at $0.192, dropping over 0.9% 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 $0.182.
However, with the RSI level continuing to trade around the midline at level 58, 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 $0.214.
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 $0.214. On the down side, $0.182 is the range.
Long-term: According to the current Hedera Hashgraph price prediction from Coincodex, the price of Hedera Hashgraph is expected to rise slightly by 0.28% and reach $0.192599 by April 13, 2025. The technical indicators from Coincodex indicate that the current market sentiment is bearish, while the Fear & Greed Index shows a level of 27, signifying Fear. Over the past 30 days, Hedera Hashgraph has had 13 out of 30 (43%) green days with a price volatility of 8.25%. Based on this forecast, it is currently not recommended to purchase Hedera Hashgraph.
HBAR price is trading at $0.192 at the time of writing. The HBAR price has decreased by over 0.9% 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 $0.214. On the down side, $0.182 is the range.
According to long-term forecasts, the HBAR price might reach $0.192 by April 13. 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.
