Hedera (HBAR) Price Prediction for January 24

Over the past day, the price of Hedera has risen nicely, increasing from $0.31 to $0.345, an increase of over 9.3%. It briefly reached a high of $0.35 but struggled to maintain that level. Additionally, Hedera’s trading volume has jumped 67.7% in the last 24 hours, reaching $707 million.

Looking at a longer timeline, Hedera’s price dropped below $0.39 on December 3 and has been decreasing since then. However, after maintaining a stable range between $0.23 and $0.25 for some time, Hedera has begun to recover, preventing further price drops. Consequently, its market capitalization has grown by 9.5% to $13.2 billion in the last 24 hours.

HBAR Faces Liquidation from Both Side Traders

Since Trump took over, there’s been a spike in people wanting to buy Hedera (HBAR). Trump also signed several executive orders that support the cryptocurrency market, leading to a rise in HBAR prices.

Over the past 24 hours, there’s been a lot of trading of Hedera, with a strong push from both side traders. According to Coinglass, about $1.02 million in Hedera trades were wiped out, with $575,000 of that coming from buyers ending their bets on price increases. Sellers ended up losing about $425,000.

After this recent jump in price, more people are interested in trading Hedera. The open interest, which tracks all the unsettled trading contracts, has increased to $447 million, showing more people are getting involved.

With this trend, the market might keep moving up as more traders are betting on price increases compared to decreases. Right now, the ratio of bets on price increases to decreases is 1.576, and 62% of traders think Hedera’s price will rise, while 38% think it will drop.

Hedera Price Prediction: Technical Analysis

The crypto market is already on a rise as Donald Trump signs multiple executive orders. Currently, HBAR price is attempting to meet buyers’ demand above the $0.35 level. As of writing, HBAR price trades at $0.35, surging over 9.3% in the last 24 hours.

The HBAR/USDT trading pair continues to struggle below $0.37, indicating strong domination from the bears. This price level could be a major obstacle as STHs might continue to liquidate here. If the price falls below the EMA20 trend line on the 1-hour chart, the sellers will likely try to push it back down to $0.32 at the downtrend line.

However, the RSI level continues to trade above the midline at level 58, which might trigger a retest of the resistance channel. If the price manages to hold above $0.37, it would favor 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 below $0.37. If the price moves above that level, we might see a trade around $0.4. On the down side, $0.32 is the range.  

Long-term: According to Coincodex’s current Hedera Hashgraph price prediction, the price of Hedera Hashgraph is expected to increase by 23.25% and reach $0.411573 by February 23, 2025. Coincodex’s technical indicators suggest a bullish current sentiment, while the Fear & Greed Index indicates a level of 75, which signifies greed. Over the last 30 days, Hedera Hashgraph has experienced 12 out of 30 green days, reflecting 40% positivity, with a price volatility of 9.43%. Based on the Hedera Hashgraph forecast, it is considered a good 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.