Over the last 24 hours, the price of Hedera continues to face bearish activity below the $0.24 level as sellers are strongly defending a recovery. HBAR price recorded a gain of nearly 0.8%, touching the high near $0.2396. Additionally, Hedera’s trading volume has dropped by 2.7% in the last 24 hours, reaching $277 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 0.66% to $9.64 billion in the last 24 hours.
Hedera’s Long/Short Ratio Tumbles
Over the last 24 hours, there has been a strong domination between the buyers and sellers to gain control of the price chart. Hbar price attempted to surge above $0.24; however, bears strongly defended a surge. 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 $338K worth of Hedera trades were settled recently, with $211K of that from buyers who had to close their positions betting on price increases. On the other hand, sellers closed around $127K worth of positions.
Amid these price challenges, interest in trading Hedera has gone up. The open interest, which tracks the total unsettled trading contracts, has surged to $194.3 million, showing increased activity by 3.4% from yesterday’s rate.
Additionally, the market might turn bullish in the coming hours as fewer traders are betting on price drops compared to those betting on price surges. Currently, about 68% of traders believe Hedera’s price will surge, while 32% 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 attempted to surge above $0.24 but faced a minor correction from sellers, resulting in a drop below the immediate Fib level. Currently, the HBAR price is at $0.2295, having dropped over 0.3% 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.
As the price aims for a drop below the EMA20 trend line on the 1-hour chart, sellers could attempt to push it down towards $0.2.
With the Relative Strength Index (RSI) remaining around the buying zone at level 47, there could be a retest of the resistance level. If the price moves above $0.25, it could shift the advantage to the buyers, potentially driving the price up 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, $0.2 is the range.
Long-term: According to the current Hedera Hashgraph price prediction from Coincodex, the price of Hedera Hashgraph is expected to rise by 85.80% and reach $0.441522 by March 17, 2025. Coincodex’s technical indicators indicate that the current market sentiment is Bearish, while the Fear & Greed Index stands at 50 (Neutral). Over the past 30 days, Hedera Hashgraph has recorded 14/30 (47%) green days and a price volatility of 16.54%. Based on this forecast, it is currently considered a bad time to purchase Hedera Hashgraph.
How much is Hedera price today?
HBAR price is trading at $0.2295 at the time of writing. The HBAR price has dropped by over 0.3% in the last 24 hours.
What is the Hedera price prediction for February 15?
Throughout the day, the 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, $0.2 is the range.
Is Hedera a Good Buy Now?
According to long-term forecasts, the HBAR price might reach $0.44 by March 17. 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.
