Hedera (HBAR) Price Prediction for March 3

Over the last 24 hours, the price of Hedera has been facing intense bearish pressure after triggering rejection around the $0.29 mark. HBAR price recorded a gain of nearly 2.7%, touching the high near $0.2845. Additionally, Hedera’s trading volume has surged by 41% in the last 24 hours, reaching $1.42 billion.  

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. By the end of Feb, the price crashed again toward the low of $0.175. Its market capitalization has dropped by 2.48% to $10.49 billion in the last 24 hours.

Bulls Lose Confidence in Hbar Price

Over the last 24 hours, there has been a strong domination by the buyers to gain control of the price chart. As a result, the Hbar price surged exponentially and hovered above $0.28. However, buyers failed to move ahead as bearish domination surged, plunging the HBAR price below $0.25.

In the past 24 hours, the HBAR price witnessed significant liquidations. According to Coinglass, about $5.67 million worth of Hedera trades were settled recently, with $2.59 million of that from buyers who had to close their positions betting on price increases. On the other hand, sellers liquidated around $3.08 million 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 $218 million, showing increased activity by 2.76% from yesterday’s rate.  

However, the market might decline in the coming hours as fewer traders are betting on price surges compared to those betting on price drops. Currently, about 40% of traders believe Hedera’s price will surge, while 60% think it will decline.

Hedera Price Prediction: Technical Analysis

As the overall crypto market witnessed a solid surge in the last few hours, HBAR price surged toward the $0.29 mark. However, it failed to hold buyers’ demand and dropped below 23.6% Fib channel. Currently, the HBAR price is at $0.248, having surged over 1.5% in the last 24 hours.   

The HBAR/USDT trading pair struggles below $0.25, showing strong selling pressure from bearish traders. This price point is significant as both side traders might increase their domination around this level.

As the price hovers above the EMA20 trend line on the 1-hour chart, buyers could attempt to break above $0.29. As a result, we might see an upward correction toward $0.33.

With the Relative Strength Index (RSI) remaining around the buying zone at level 59, the buying dominance rises. However, a failure to initiate an upward correction might trigger a retest toward $0.237. A drop from this level might send the Hbar price toward $0.19.

Hedera Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, Hbar price might aim for a surge toward $0.29. If the price moves above that level, we might see a trade around $0.33. On the down side, $0.237 is the range.  

Long-term: According to the current Hedera Hashgraph price prediction on Coincodex, the price of Hedera Hashgraph is expected to rise by 84.46% and reach $0.503049 by April 2, 2025. Coincodex’s technical indicators suggest that the current sentiment is Bullish, despite the Fear & Greed Index indicating a level of 26, which classifies it as Fear. Over the past 30 days, Hedera Hashgraph has experienced 13/30 (43%) green days with a price volatility of 10.12%. Based on this forecast, it is currently considered a good time 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.