Over the past day, Hedera’s price has seen a strong decline on its chart. The price of HBAR failed to maintain its momentum above $0.4, resulting in a steep decline toward $0.34. At the same time, the trading volume for Hedera declined by 57.1%, hitting $1.15 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 intense drops. Over the last 24 hours, its market cap dropped by 6.5%, reaching $13.37 billion.
Bulls Liquidated Worth $3 Million Positions
In the past day, there’s been a surge in trading Hedera (HBAR), with a lot of buying. According to Coinglass, about $3.5 million worth of Hedera trades were liquidated. Most of this, $3 million, came from buyers closing their long positions, where they had hoped the price would go up.
However, after a recent drop in its price, fewer people are interested in trading Hedera. The open interest, which tracks unsettled trading contracts, has fallen by over 13% and is now at $488 million.
Despite this downturn, more traders are still betting on price increases than decreases. The long/short ratio stands at 1.3175, meaning more traders are taking long positions, anticipating a price rise. Currently, 56.8% of traders believe Hedera’s price will increase, while 43.2% expect it to drop.
Hedera Price Prediction: Technical Analysis
After facing rejection around $0.4, the price of HBAR faced intense selloff. This pushed the price toward the low of $0.34. However, buyers are trying to send the price above 23.6% Fib channel to retest the resistance channel. As of writing, HBAR price trades at $0.348, declining over 7.3% in the last 24 hours.
The HBAR/USDT trading pair continues to hover around $0.34 and is aiming to consolidate around that level. If the price falls below the EMA20 trend line, the sellers will likely try to push it back down to the yellow line at $0.32.
However, the RSI level continues to trade above the midline at level 54, which might trigger a retest of the resistance channel. If the price manages to hold above $0.35, it would favour the buyers. The trading pair could then increase to $0.4.
Hedera Price Prediction: What to Expect Next?
Short-term: According to BlockchainReporter, Hbar price might continue to struggle around $0.34-$0.35. If the price moves above that level, we might see a trade around $0.4. On the other hand, $0.32 is the lower range.
Long-term: According to the current Hedera Hashgraph price prediction from Coincodex, the price of Hedera Hashgraph is expected to increase by 25.13% and reach $0.464433 by February 17, 2025. Coincodex’s technical indicators suggest that the current market sentiment is bullish, while the Fear & Greed Index indicates a level of 77, representing ‘Extreme Greed’. Over the past 30 days, Hedera Hashgraph has seen 15 out of 30 days of price increases, with a price volatility of 8.37%. Based on this forecast, it is considered a good time to buy Hedera Hashgraph.
How much is Hedera price today?
HBAR price is trading at $0.348 at the time of writing. The HBAR price has dropped by over 7.3% in the last 24 hours.
What is the Hedera price prediction for January 18?
Throughout the day, the Hbar price might continue to struggle around $0.34-$0.35. If the price moves above that level, we might see a trade around $0.4. On the other hand, $0.32 is the lower range.
Is Hedera a Good Buy Now?
According to long-term forecasts, the HBAR price might reach $0.464 by February 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.
