Hedera (HBAR) Price Prediction for February 21

Over the past 24 hours, the price of Hedera has been making a strong surge as it holds momentum above $0.224, an increase of over 2.03%. Hbar touched a high near $0.2259. Additionally, Hedera’s trading volume has dropped by 6.8% in the last 24 hours, reaching $232.6 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. However, the price is now on a recovery path. Consequently, its market capitalization has grown by 2.36% to $9.4 billion in the last 24 hours.

HBAR’s Open Interest Rises Above $200 Million

As the overall market sentiment turned bullish, there’s a strong buying demand in the altcoin market. As a result, Hbar price is experiencing a surge above its bearish zone and aims for a skyrocketing trend ahead. 

Over the past 24 hours, there’s been a lot of trading of Hedera, with a strong push from both side traders. According to Coinglass, about $218.5K in Hedera trades were wiped out, with $115,500 of that coming from buyers ending their bets on price increases. Sellers ended up losing about $103,600.

Following the bullish volatility on the price chart, more people are interested in trading Hedera. The open interest, which tracks all the unsettled trading contracts, has increased to $204 million, showing a surge by 3% from yesterday’s rate.

With this trend, the market might keep moving up as more traders are betting on price increases compared to decreases. Right now, the ratio of long/short is at 1.1057, and 52.5% of traders think Hedera’s price will rise, while 47.5% think it will drop.

Hedera Price Prediction: Technical Analysis

The crypto market is recovering, resulting in a strong correction in the HBAR price. Buyers are now pushing the price above immediate Fib levels to continue the upward momentum. As of writing, HBAR price trades at $0.227, surging over 2.9% in the last 24 hours. 

The HBAR/USDT trading pair continues to struggle below $0.25, indicating strong domination from the bears. This price level could be a major obstacle as STHs might continue to liquidate here. However, buyers might soon break above that level if 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 $0.21 at the downtrend line.

However, with the RSI level continuing to trade above the midline at level 61, it might trigger a retest of the resistance channel. If the price manages to hold above $0.25, it would favor the buyers. The trading pair could then increase 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, $0.21 is the range.  

Long-term: According to the latest Hedera Hashgraph price prediction from Coincodex, the price of Hedera Hashgraph is expected to rise by 62.86%, reaching $0.357759 by March 23, 2025. Despite the positive price forecast, technical indicators suggest a bearish current sentiment, while the Fear & Greed Index is at 55, indicating greed. Over the past 30 days, Hedera Hashgraph has seen 13/30 (43%) green days and experienced 16.51% price volatility. Based on this forecast, it is currently considered an unfavorable 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.