Hedera (HBAR) Price Prediction for January 16

Over the past day, Hedera’s price has risen nicely, moving up from its previous level of $0.28 to now trade at $0.335, marking an increase of over 11.5%. Although it briefly peaked at $0.347, it has had trouble constantly staying above that key Fibonacci level. Meanwhile, Hedera’s trading volume over the last 24 hours has surged by 93.7%, reaching $1.35 billion.

Zooming out, Hedera’s price fell below $0.39 on December 3 and has been trending downward since. After stabilizing between $0.23 and $0.25 for some time, Hedera has started to recover, avoiding further declines. As a result, its market capitalization has grown by 11.7% to $12.93 billion in just one day.

HBAR Faces Drop in Long/Short Ratio

On Wednesday, Bitcoin and other cryptocurrencies saw a significant increase in value, adding nearly $100 billion to their total market capitalization after reports that the US Consumer Price Index (CPI) for December had risen to 2.9%.

In the last 24 hours, trading activity around Hedera (HBAR) has been intense, with equal action from both buyers and sellers. According to Coinglass, there was a total liquidation of around $2.67 million in Hedera trades. Of this, $1.28 million came from buyers closing their long positions.

Following this recent price jump, there has been more interest in trading Hedera. The open interest, which reflects the total number of outstanding derivative contracts, has risen to $415 million, showing increased demand. However, despite the current upward trend, the market could shift to a bearish (downward) trend as the ratio of long to short positions has been falling.

Currently, the long/short ratio is at 0.86, indicating a rise in short positions—trades betting that prices will fall. This means more traders are expecting a decrease in prices soon. Right now, 46.3% of traders anticipate a price increase in Hedera, while 53.7% are betting against it.

Hedera Price Prediction: Technical Analysis

Following the release of CPI data, HBAR price sharply rose from the low of $0.3 to over $0.34 in just a few hours. However, it faced intense selloff from STHs, resulting in a consolidation around the EMA20 trend line on the 1-hour chart. As of writing, HBAR price trades at $0.335, surging over 10% in the last 24 hours.

The HBAR/USDT trading pair continues to hover around $0.34, which could be a major obstacle. 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 $0.28 at the downtrend line.

However, the RSI level continues to trade above the midline at level 61, which might trigger a retest of the resistance channel. If the price manages to hold above $0.35, it would favor the buyers. The trading pair could then increase to $0.4.

Hedera Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, Hbar price might continue to struggle around $0.35. If the price moves above that level, we might see a trade around $0.38.  

Long-term: According to the current Hedera Hashgraph price prediction on Coincodex, the price of Hedera Hashgraph is expected to increase by 25.33% and reach $0.417329 by February 15, 2025. The technical indicators on Coincodex suggest a bullish sentiment, while the Fear & Greed Index indicates a level of 75, which represents ‘Greed’. Over the last 30 days, Hedera Hashgraph has had 14 out of 30 green days, with a price volatility of 5.25%. Based on these forecasts, Coincodex suggests that it is now a good time to buy Hedera Hashgraph.

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.