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- The RSI is at 57 and rapidly heading toward the overbought zone.
- The Hedera crypto price has declined by 28% in the last month.
Hedera (HBAR) crypto price has witnessed selling momentum in the past month, dropping by approximately 30%. The HBAR price has struggled between the 20-day and 200-day moving average for the past few weeks. Recently, it has surpassed the 20-day EMA and rose by 6.23%.
As we can see on the technical chart, the Hedera crypto price has been in a bullish trend since September and jumped by approximately 100% till December. The uptrend was disturbed in the last week of December, and sellers became strong, which led to a fall of 28% in a month.
The circulating supply of Hedera crypto is 33,665,267,274 HBAR, and the maximum & total supply is 50,000,000,000 HBAR. The market capitalization of Hedera crypto is $2.63 billion, and the fully diluted market cap is $3,912,619,704.
The current market price of Hedera is $0.078, which has increased by 2.96% in the past 24 hours. The 24-hour trading volume of Hedera is 64.28 million, which is a fall of 20%.
Hedera Price Has Formed a Falling Wedge Pattern Over a 1-D Timeframe
On a daily time frame, the Hedera crypto price has formed a falling wedge pattern and has given a bullish breakout. As we can see on the chart, the HBAR price has surpassed the moving average with bullish momentum and higher volume.
If the buyers remain confident, they may lift the price to the last swing high of $0.095 in the next few weeks. The level of $0.100 works as a strong resistance level, as in the past, the Hedera price has taken a trend reversal twice.
Suppose the HBAR crypto price reaches the resistance level of $0.100; profit booking can be initiated. If the investors show their faith, a genuine positive breakout can be expected, and a new all-time high can be registered.
On the other hand, if the price fails to sustain over the 20-day moving average, sellers may continue their lead, and the price may perform negatively. If the HBAR price fails to defend the $0.070 mark and slips below the 200-day EMA, intense selling pressure can be observed, and previous profits can be eroded.
Hedera Price Prediction FAQs
What is the Hedera price prediction today?
The HBAR price is predicted to gain 4.79% and hit $0.079 by today.
What is the HBAR price forecast for tomorrow?
According to our analysis, the Hedera crypto price is forecasted to rise 1.67% to achieve the $0.080 mark by tomorrow.
What is the Hedera price prediction for this week?
Based on our technical analysis, the HBAR price is forecasted to remain neutral and may range between $0.075 and $0.083 by this week.
What is the current HBAR price sentiment?
The current Hedera crypto price prediction sentiment is neutral.
Conclusion
Based on the technical analysis and recent price movements, the Hedera crypto price is showing some bullish momentum. It has the potential to reach higher levels if the buyers remain confident. However, some resistance levels still exist, so investors should stay cautious and keep an eye on the market movements.
Technical Levels
Resistance: $0.085 & $0.095
Support: $0.068 & $0.058
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.
