Hedera (HBAR) Price Prediction for March 6

Over the last 24 hours, the price of Hbar has been witnessing a strong recovery rally toward $0.26; however, it failed to move above $0.26. As a result, the price of Hbar declined and recorded a drop of nearly 2.6%, touching the low around $0.2431. Additionally, Hedera’s trading volume has dropped 4.93% in the last 24 hours, reaching $890 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 recent hack in Bybit pushed the price toward $0.2. In the last 24 hours, Hedera’s market capitalization has dropped by 2% to $10.13 billion.

HBAR’s Funding Rate Becomes Negative

Following a sharp uptick in buying demand, HBAR’s price has been experiencing a significant surge, with the potential to rally smoothly towards $0.3 if the buying pressure continues.

In the last 24 hours, trading activity for Hedera has intensified due to strong buyer interest. According to Coinglass, approximately $785K worth of Hedera trades were settled, with buyers liquidating $617K as they pulled back from anticipating further price rises. Meanwhile, sellers faced losses of around $168K.

Despite the vigorous buying, overall market sentiment remains bearish, as indicated by a decline in open interests. The total open interest, which measures unsettled trading contracts, has fallen to $188 million, a decrease of 5.8% from the previous day.

Moreover, the market may be poised for a downward correction, underscored by a negative funding rate. The current funding rate for HBAR stands at -0.0052%, signaling increased dominance of sellers in the market.

Hedera Price Prediction: Technical Analysis

The HBAR price recovered as it made a solid surge toward $0.26. However, it failed to surge further as bears strongly defended the $0.26 level. As of writing, HBAR price trades at $0.24, dropping over 1.4% in the last 24 hours.  

The HBAR/USDT trading pair is struggling to approach the immediate resistance line at $0.288. This level could be a major obstacle as STHs might continue to liquidate here. However, buyers might soon break above that level as demand surges.

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 $0.21.

However, with the RSI level continuing to trade around the midline at level 49, it might trigger a retest of the resistance channel. If the price manages to hold above $0.288, it would favor the buyers. The trading pair could then increase to $0.33.

Hedera Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, Hbar price might aim for $0.288. If the price moves above $0.288, we might see a trade around $0.33. On the down side, $0.21 is the range.  

Long-term: According to the latest Hedera Hashgraph price prediction from Coincodex, Hedera Hashgraph is expected to increase by 62.21%, reaching $0.401849 by April 5, 2025. Technical indicators present a neutral current sentiment, while the Fear & Greed Index indicates extreme fear at 25. Over the last 30 days, Hedera Hashgraph experienced 14 green days, which accounts for 47% of the period, along with a price volatility of 7.85%. Based on this forecast, it is considered 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.