Hedera (HBAR) Price Prediction for March 20

In the past 24 hours, the price of Hbar has seen a strong bullish rally as it surges toward the immediate resistance channel at $0.2. However, it faced a rejection and dropped, with a decline of 2%, reaching a low of $0.187. Moreover, the trading volume for Hedera has increased by 22% over the same period, totalling around $286 million.

Looking at a longer timeline, Hedera’s price dropped below $0.39 on December 3 and has been decreasing since then. On February 3, the price of HBAR crashed heavily as it dropped below $0.2. Additionally, the hack in Bybit pushed the price below $0.2. In the last 24 hours, Hedera’s market capitalization has dropped by 2% to $8.07 billion.

HBAR’s OI Surges Despite Bearish Pressure

The price of Hbar is showing increased volatility as it nears a potential peak of $0.2. Despite this, a strong bearish defense has prevented a breakthrough, with the price being pushed back from $0.2 and falling below the 23.6% Fibonacci retracement level. According to recent data from Coinglass, around $235.5K worth of Hedera transactions were processed during this tumultuous period. Of this, buyers liquidated $145K worth of trades amid fading optimism for further price increases, while sellers incurred losses of about $90K.

Amidst this market turbulence, the open interest in Hedera has increased by 4.5% in the last 24 hours, totalling $176.6 million. This rise in open interest—a measure of unsettled trading contracts—indicates a surge in trading activity.

Moreover, market indicators suggest an impending upward correction. The positive funding rate of +0.0019% for HBAR points to a strengthening influence of buyers, which could potentially send the market higher.

Hedera Price Prediction: Technical Analysis

HBAR’s price is currently experiencing a vigorous surge toward the pivotal $0.2 mark. Yet, resistance at this level has been formidable, with bears effectively blocking any advance above it and driving the price down to $0.18. At the moment, HBAR is trading at $0.188, reflecting a decline of over 2.5% in the last 24 hours.

The HBAR/USDT pair is finding it challenging to reach the immediate resistance at $0.2, a critical barrier where short-term holders (STHs) might opt to sell off their positions. Despite this, there’s a possibility that increased demand could enable buyers to eventually surpass this threshold.

Should the price remain below the EMA20 trend line on the 1-hour chart, it’s likely that sellers will attempt to drive it further down to $0.18. A further decline from this point could solidify the sellers’ control, potentially pushing the price down to $0.17.

Conversely, if HBAR maintains its position above the EMA trend lines, the coin might rally toward $0.2 again. Successfully breaking above this level could send HBAR’s price to exceed $0.21.

Hedera Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, Hbar price might aim for $0.2. If the price moves above $0.2, we might see a trade around $0.21. On the down side, $0.18 is the range.  

Long-term: According to Coincodex’s Hedera Hashgraph price prediction, the price of Hedera Hashgraph is expected to decline by -3.54%, potentially reaching $0.186769 by April 19, 2025. Technical indicators from Coincodex suggest a Bearish sentiment at present, while the Fear & Greed Index stands at 49, indicating Neutral conditions. Over the last 30 days, Hedera Hashgraph has seen 15 green days, accounting for 50% of the time, with a price volatility of 9.78%. Given these forecasts and market conditions, it is currently deemed inadvisable to purchase 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.