Hedera (HBAR) Price Prediction for January 17

Over the past day, Hedera’s price has seen a strong increase on its chart, reaching up to $0.4, with a nearly 10% rise. Although it briefly touched $0.401, it struggled to consistently stay above that important price level. At the same time, the trading volume for Hedera has jumped 88.7%, hitting $2.66 billion.

Looking at a broader time frame, Hedera’s price dropped below $0.39 on December 3 and has been generally decreasing since then. After remaining stable between $0.23 and $0.25 for a while, Hedera has begun to recover, avoiding further drops. Consequently, its market value increased by 9.7%, reaching $14.37 billion in a single day.

HBAR Records $517 Million in Open Interest

In the last 24 hours, there has been a lot of trading activity around Hedera (HBAR), with balanced participation from both buyers and sellers. According to Coinglass, about $7.65 million worth of Hedera trades were liquidated. Out of this, $3.72 million were due to buyers exiting their long positions, where they bet on price increases.

Following the recent price rise, interest in trading Hedera has grown. The open interest, which represents the total number of unsettled derivative contracts, has reached a new high of $517 million, indicating a stronger demand. 

Moreover, the upward trend in the market has increased the long/short ratio, which is now at 1.8161. This ratio shows that more traders are taking long positions, betting that prices will continue to rise. Currently, 64.4% of traders think Hedera’s price will go up, while 35.6% are predicting a fall.

Hedera Price Prediction: Technical Analysis

HBAR price sharply rose from the low of $0.35 to over $0.4 in just a few hours. However, it faced minor selloff from STHs, resulting in a pullback below the 23.6% Fib level. As of writing, HBAR price trades at $0.376, surging over 8.7% in the last 24 hours.

The HBAR/USDT trading pair continues to hover around $0.37 and is aiming for a hold above $0.4. If the price falls below the $0.35, the sellers will likely try to push it back down to the EMA20 trend line.  

However, the RSI level continues to trade above the midline at level 70, which might trigger a retest of the resistance channel. If the price manages to hold above $0.4, it would favor the buyers. The trading pair could then increase to $0.44.

Hedera Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, Hbar price might continue to struggle around $0.35-$0.4. If the price moves above that level, we might see a trade around $0.44.  

Long-term: According to the latest Hedera Hashgraph price prediction from Coincodex, the price of Hedera Hashgraph is expected to increase by 21.47% and reach $0.468361 by February 16, 2025. Coincodex’s technical indicators suggest that the current market sentiment is Bullish, and the Fear & Greed Index indicates a score of 75, representing Greed. Over the past 30 days, Hedera Hashgraph has experienced 14 green days, accounting for 47% of the time, with a price volatility of 6.48%. Based on these forecasts, Coincodex suggests that it is currently a good time to purchase 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.