Hedera (HBAR) Price Prediction for March 21

In the past 24 hours, the price of Hbar has been facing a strong bearish rally as sellers pushed the price toward $0.18. Hbar recorded a drop of 4.1%, reaching a low of $0.1826. Moreover, the trading volume for Hedera has dropped by 33% over the same period, totalling around $197 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. Additionally, the hack in Bybit pushed the price below $0.2. In the last 24 hours, Hedera’s market capitalization has dropped by 4% to $7.7 billion.

HBAR’s Funding Rate Turns Negative

Hedera (HBAR) is experiencing increased downward volatility as it approaches the critical $0.18 level, with sellers working to keep the price beneath Fibonacci channels.

Recent data from Coinglass reveals that $342,000 worth of Hedera transactions occurred during this unstable period. Out of this, buyers liquidated $317,000 in trades due to diminishing hopes for price increases, while sellers faced losses totaling $25,000. 

Amid these turbulent market conditions, Hedera’s open interest has fallen by 7.5% in the past 24 hours, amounting to $171 million. This reduction in open interest, a gauge of unresolved trading contracts, signals a decline in trading activity.

Additionally, market indicators point to a likely downward correction soon. The negative funding rate of -0.0028% for HBAR indicates a growing dominance of sellers, potentially driving the market lower.

Hedera Price Prediction: Technical Analysis

HBAR is currently facing significant bearish pressure, pushing its price toward $0.18. The $0.2 mark has established itself as a formidable resistance level, with bears successfully preventing any upward movement beyond this point and pushing the price toward the immediate support levels. Currently, HBAR is trading at $0.183, having dropped by more than 4.3% in the last 24 hours.

The HBAR/USDT pair struggles to overcome the immediate resistance at $0.2, a critical point where short-term holders may choose to offload their holdings. Despite these challenges, there remains a possibility that increased buying pressure could help buyers breach this barrier eventually.

If the price continues to stay below the EMA20 line on the 1-hour chart, it is likely that sellers will push it down further towards $0.18. A continued decline from this level could strengthen the sellers’ grip, potentially driving the price down to $0.17.

On the flip side, if HBAR manages to stay above the EMA trend lines, there could be a potential rally back to the $0.2 mark. Breaking above this resistance could pave the way for the price to climb past $0.21.

Hedera Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, Hbar price might aim for $0.2. If the price moves above $0.2, we might see a trade around $0.21. On the down side, $0.18 is the range.  

Long-term: According to the latest predictions from Coincodex, Hedera Hashgraph’s price is expected to decrease by -3.28%, reaching approximately $0.178937 by April 20, 2025. Technical indicators suggest a bearish current sentiment, and the Fear & Greed Index indicates a score of 0, suggesting extreme fear in the market. Over the past 30 days, Hedera Hashgraph has seen 15 out of 30 days in green, demonstrating a price volatility of 9.93%. Based on these forecasts from Coincodex, it is currently considered an unfavorable time to invest in 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.