Over the past 24 hours, Hedera’s price has undergone bearish consolidation around $0.22, but it managed to record a slight increase of nearly 0.2%, reaching a high of about $0.2375. Additionally, trading volume for Hedera surged 44.4% during this period, totaling $372.8 million.
Looking at a longer timeframe, Hedera’s price fell below $0.39 on December 3 and has continued to decline since then. In early February, the HBAR price experienced a significant drop, hitting a low around $0.177. Meanwhile, its market capitalization increased by 0.17% over the last 24 hours, reaching $8.6 billion.
Hedera’s Open Interest Declines Toward $180 Million
As Hedera price has been struggling around immediate resistance lines, sellers are gaining complete control to send the price toward immediate support channels. Currently, there’s a strong battle between the buyers and sellers. Sellers are attempting to send the price below $0.2 to increase their domination.
In the past 24 hours, there’s been a consolidation for Hedera around $0.22. According to Coinglass, about $604K worth of Hedera trades were settled recently, with $417K of that from buyers who had to close their positions betting on price increases. On the other hand, sellers closed around $187K worth of positions.
Amid these price challenges, interest in trading Hedera has gone down. The open interest, which tracks the total unsettled trading contracts, has declined to $180.5 million, showing decreased activity by 2.71% from yesterday’s rate.
Additionally, the market might turn bearish in the coming hours as fewer traders are betting on price surges compared to those betting on price declines. Currently, about 53% of traders believe Hedera’s price will drop, while 47% think it will surge.
Hedera Price Prediction: Technical Analysis
Despite the general buying trend in the cryptocurrency market, the price of HBAR failed to gather enough momentum to rise. A recent market downturn has resulted in Hedera’s price entering a strong bearish phase. Currently, HBAR’s price stands at $0.2249, having decreased by 0.09% in the past 24 hours.
The HBAR/USDT trading pair is staying below $0.25, indicating significant selling pressure from bearish traders. This price level could persist as a major obstacle, particularly if short-term holders decide to sell their holdings at this point.
As the price remains below the EMA20 trend line on the 1-hour chart, there is potential for sellers to push it further down towards $0.2. With the Relative Strength Index (RSI) below the midpoint at level 41, the support level might be tested again. Conversely, if the price climbs above $0.25, the momentum could shift in favor of the buyers, possibly driving the price up to $0.28.
Hedera Price Prediction: What to Expect Next?
Short-term: According to BlockchainReporter, Hbar price might continue to struggle below $0.25. If the price moves above that level, we might see a trade around $0.28. On the down side, $0.2 is the range.
Long-term: According to Coincodex’s current Hedera Hashgraph price prediction, the price of Hedera Hashgraph is expected to increase by 48.39% and reach $0.339602 by March 10, 2025. Coincodex’s technical indicators suggest that the current market sentiment is bearish, with the Fear & Greed Index at 44, indicating fear. Over the last 30 days, Hedera Hashgraph has experienced 14 green days, which is 47% of the time, and a price volatility of 12.32%. Based on this forecast, Coincodex advises that now might not be a good time to buy Hedera Hashgraph.
How much is Hedera price today?
HBAR price is trading at $0.2249 at the time of writing. The HBAR price has dropped by over 0.09% in the last 24 hours.
What is the Hedera price prediction for February 13?
Throughout the day, the Hbar price might continue to struggle below $0.25. If the price moves above that level, we might see a trade around $0.28. On the down side, $0.2 is the range.
Is Hedera a Good Buy Now?
According to long-term forecasts, the HBAR price might reach $0.339 by March 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.
