Hedera (HBAR) Price Prediction for February 7

Over the last 24 hours, the price of Hedera has been consolidating as it struggles to surge above $0.25. Before that, HBAR price made a strong support at $0.177 and rebounded steeply but faced significant rejection at $0.282. However, Hedera’s trading volume has surged by 2.5% in the last 24 hours, reaching $364 million.

Looking at a longer timeline, Hedera’s price dropped below $0.39 on December 3 and has been decreasing since then. In the starting of February, the price of Hedera faced a crash toward the low of $0.177. Its market capitalization has declined by 4.35% to $9.05 billion in the last 24 hours.

HBAR Faces a Drop in Open Interest

The HBAR price crashed during 1 and 2 February, resulting in a steep drop toward the low of $0.177. However, HBAR price is now attempting to surge above the immediate resistance line. The past 24 hours have seen significant trading activity, including a notable push from buyers. Coinglass reports that approximately $680K worth of Hedera trades were liquidated, with $474K from buyers liquidating their long positions, betting on price increases.

Following these recent price struggles, trading interest in Hedera has dropped. The open interest, indicating the total number of unsettled derivative contracts, has decreased to $184.5 million, showing a 4% drop in market engagement. However, the market could continue surging above in its attempt for upward correction as the funding rate remains positive. Current data reveals the funding rate is at 0.0059%, suggesting a tilt in favor of buyers.

Additionally, with the long/short ratio at 1.3063, indicating a rise in long positions where traders bet on price increases, market sentiment is mixed. Presently, 57% of traders believe Hedera’s price will increase, while 43% are betting it will decline.

Hedera Price Prediction: Technical Analysis

The crypto market is attempting for a recovery as HBAR price aims for a surge above the $0.28 level. However, the price of Hedera Hashgraph (HBAR) is still encountering resistance. Currently, the HBAR price is at $0.237, having dropped over 4.2% in the last 24 hours.

The HBAR/USDT trading pair remains under $0.25, showing strong selling pressure from bearish traders. This price point may continue to be a significant barrier, as short-term holders (STHs) might opt to sell off their positions at this level.

However, buyers successfully rebounded the price from the low of $0.177-$0.21. We expect the HBAR price to retest its resistance at $0.288. If the price stays below the EMA20 trend line on the 1-hour chart, sellers could attempt to push it down towards $0.21 along the downtrend line.

With the Relative Strength Index (RSI) remaining below the midline at 42, there could be a drop toward $0.21. Should the price stabilize above $0.21, it could shift the advantage to the buyers, potentially driving the price up to $0.32.

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 $0.288. On the down side, $0.21 is the range.  

Long-term: According to the Hedera Hashgraph price prediction by Coincodex, the price of Hedera Hashgraph is expected to increase by 35.93%, reaching $0.316994 by March 9, 2025. Coincodex’s technical indicators suggest that the current market sentiment is Bearish, and the Fear & Greed Index indicates a level of 44, categorized as Fear. Over the past 30 days, Hedera Hashgraph has experienced 13 green days, which constitutes 43% of the time, with a price volatility of 11.62%. Based on these forecasts, it is currently considered a poor 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.