Over the last 24 hours, the price of Hedera has been facing intense bearish pressure as sellers pushed the price toward the crucial support of $0.2. HBAR price recorded a drop of nearly 7.8%, touching the low near $0.2008. Additionally, Hedera’s trading volume has surged by 19.64% in the last 24 hours, reaching $219.44 million.
Looking at a longer timeline, Hedera’s price dropped below $0.39 on December 3 and has been decreasing since then. In early February, HBAR price crashed and it recorded a low around $0.177. Its market capitalization has surged by 7.8% to $8.52 billion in the last 24 hours.
Hedera’s Long/Short Ratio Touches 0.2
Over the last 24 hours, there has been a strong domination by the sellers to gain control of the price chart. Currently, sellers are attempting to send the price below $0.2 to increase their domination.
In the past 24 hours, there’s been a consolidation in the Hbar price chart. According to Coinglass, about $1.22 million worth of Hedera trades were settled recently, with $1.17 million of that from buyers who had to close their positions betting on price increases.
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 million, showing lower activity by 7.4% from yesterday’s rate.
Additionally, the market might turn more bearish in the coming hours as fewer traders are betting on price surges compared to those betting on price drops. Currently, about 20% of traders believe Hedera’s price will surge, while 80% think it will decline.
Hedera Price Prediction: Technical Analysis
Despite the overall buying trend in the crypto market, HBAR price failed to gain the required buying momentum. The price is now attempting to drop below the crucial $0.2 level. Currently, the HBAR price is at $0.2092, having dropped over 8% in the last 24 hours.
The HBAR/USDT trading pair remains around $0.2, showing strong selling pressure from bearish traders. This price point is significant as long position holders might opt to sell off their positions at this level.
As the price hovers below the EMA20 trend line on the 1-hour chart, sellers could attempt to push it down towards $0.78.
With the Relative Strength Index (RSI) remaining around the selling zone at level 29, the bearish dominance rises. However, a rebound from the $0.18-$0.2 zone might strengthen bullish dominance, resulting in a recovery toward $0.23.
Hedera Price Prediction: What to Expect Next?
Short-term: According to BlockchainReporter, Hbar price might aim for a drop below $0.2. If the price moves above that level, we might see a trade around $0.23. On the down side, $0.178 is the range.
Long-term: According to the current Hedera Hashgraph price prediction from Coincodex, the price of Hedera Hashgraph is expected to increase by 69.67% and reach $0.352033 by March 20, 2025. Coincodex’s technical indicators suggest that the current market sentiment is Bearish and the Fear & Greed Index is at 47, indicating a Neutral stance. Over the last 30 days, Hedera Hashgraph has experienced 12 out of 30 green days, with a price volatility of 16.50%. Based on these forecasts, it is currently considered an unfavorable time to purchase Hedera Hashgraph.
How much is Hedera price today?
HBAR price is trading at $0.2092 at the time of writing. The HBAR price has dropped by over 7.8% in the last 24 hours.
What is the Hedera price prediction for February 18?
Throughout the day, the Hbar price might aim for a drop below $0.2. If the price moves above that level, we might see a trade around $0.23. On the down side, $0.178 is the range.
Is Hedera a Good Buy Now?
According to long-term forecasts, the HBAR price might reach $0.352 by March 20. 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.
