Hedera (HBAR) Price Prediction for January 31

Over the last 24 hours, the price of Hedera has been facing mixed market sentiment as it struggles below $0.32. HBAR price recorded a gain of nearly 1.3%, touching the high near $0.3218. Additionally, Hedera’s trading volume has dropped by 23.8% in the last 24 hours, reaching $345.5 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. Its market capitalization has surged by 1.4% to $12.1 billion in the last 24 hours.

HBAR Faces a Drop in Long/Short Ratio

Though Hedera price has been struggling around immediate resistance lines, buyers still have the control to send the price toward new highs. The buying demand remains constant as Trump prints a bullish view on the crypto market. Right now, buyers are trying hard to keep the price steady at $0.32, but it’s challenging.

In the past day, there’s been a lot of trading with Hedera, especially from buyers trying to push the price up. According to Coinglass, about $586.5K worth of Hedera trades were settled recently, with $418.6K of that from buyers who had to close their positions betting on price increases.

Despite these price challenges, interest in trading Hedera has gone up. The open interest, which tracks the total unsettled trading contracts, has surged to $373.6 million, showing increased activity by 2.5% from yesterday’s rate.  

However, the market might keep trending downward as fewer traders are betting on price increases compared to those betting on price drops. Currently, only about 40% of traders believe Hedera’s price will rise, while a majority of 60% think it will decrease.

Hedera Price Prediction: Technical Analysis

As Donald Trump returns to the White House, the crypto market is seeing a rise. However, the price of Hedera Hashgraph (HBAR) is still encountering resistance around $0.32. Currently, the HBAR price is at $0.317, having surged over 1.9% in the last 24 hours.

The HBAR/USDT trading pair remains under $0.35, 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.

If the price stays below the EMA20 trend line on the 1-hour chart, sellers could attempt to push it down towards $0.29 and further to $0.26.

With the Relative Strength Index (RSI) remaining above the midline at 51, there could be a retest of the resistance level. Should the price stabilize above $0.35, it could shift the advantage to the buyers, potentially driving the price up to $0.37.

Hedera Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, Hbar price might continue to struggle below $0.35. If the price moves above that level, we might see a trade around $0.37. On the down side, $0.29 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 16.97% and reach $0.373883 by March 2, 2025. Coincodex’s technical indicators suggest that the current market sentiment is bullish, while the Fear & Greed Index indicates a level of 76, which represents Extreme Greed. Over the last 30 days, Hedera Hashgraph has experienced 15 green days, accounting for 50% of the time, with a price volatility of 8.79%. Based on these forecasts, it is suggested that now is a good time to buy 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.