- The Hedera crypto price has dropped by 22% in the past 2 weeks.
- The RSI is at 45; it has dropped from the overbought zone and is heading toward the oversold zone.
- The Hedera price is struggling between the 20-day and 100-day moving averages.
The Hedera (HBAR) price is at $0.0780 with an intraday gain of 1.52%. The HBAR price chart has witnessed selling pressure from a strong resistance level which is also the last swing high level.
The HBAR crypto price has tried many times to surpass the $0.1000 mark but couldn’t. Here, the sellers are strong enough to drag down the price. It has dropped by 86% from its all-time high. After a strong downfall, the HBAR coin has undergone a consolidation phase in a wider time frame.
The RSI is at 45.78 and favors bearish momentum. The HBAR crypto is trading above the 200-day moving average, which showcases a bullish trend.
The market capitalization is $2.64 billion and the 24-hour trading volume is $60.89 million. Additionally, the circulating supply is 33,649,003,053 HBAR and the fully diluted market cap is $3,932,464,963. Furthermore, the maximum and the total supply is 50,000,000,000 HBAR.
Hedra Coin Price Has Formed a Head and Shoulder Pattern
The Hedera crypto price has formed a head-and-shoulder pattern and is currently halted near the neckline. For the last two weeks, the Hedera coin price has performed negatively and profit booking was observed.
If the HBAR price slips below the neckline and sustains, then the 100-day EMA can be reached easily. However, if the Hedera price fails to defend the 100-day moving average, then the price may melt to the strong support level of $0.0600.
The MACD is at -00071 and the signal line is at 0.00057. There is a bearish crossover in the MACD indicator, which points to the weak momentum in the HBAR cryptocurrency.
Hedera Crypto Price Has Formed Symmetrical Triangle on 4-Hour Timeframe
The Hedera coin price has formed a symmetrical triangle in a 4-hour time frame. If the HBAR price gives a breakout and sustains above $0.0850, bullish momentum can be expected for the short term.
On the other hand, if the HBAR cryptocurrency gives a breakdown with volumes and it starts trading below the $0.0750 mark, sellers may gain the upper hand and bearish momentum can be seen.
Hedera Crypto Price Prediction FAQs
What is the current HBAR coin price prediction sentiment?
The current HBAR coin price prediction sentiment is neutral according to our technical analysis.
What is the Hedera crypto price prediction today?
The HBAR price is predicted to gain 3.21% to reach $0.0793 by today.
What is the HBAR price prediction for tomorrow?
According to our analysis, the Hedera coin price will gain 3.82% to reach $0.0825 by tomorrow.
What is the HBAR coin price prediction for this week?
The Hedera crypto price will range between $0.0789 & $0.0702 this week. The HBAR coin price is predicted to fall 11.24% to reach the lower target.
What is the HBAR price prediction for 2024?
Hedera’s price is predicted to range between $0.0610 and $0.0954 in 2024. The HBAR price needs to gain 20.47% to hit the upper target.
Conclusion
The MACD, RSI, and EMAs are giving bearish signals, suggesting that a downward trend in the price of the HBAR cryptocurrency may continue. However, the investors and traders must wait to be properly prepared for the next step and avoid giving in to FOMO while making any move.
Technical Levels
Resistance Levels: $0.0850 & $0.1000
Support Levels: $0.0650 & $0.0600
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.
