Hbar (HBAR) Price Prediction: 2024 Outlook as It Drops Below $0.2, Targeting $0.18

In the past 24 hours, the price of Hbar has been facing rising bearish pressure as it failed to surge above $0.2. Hbar recorded a drop of 2.38

In the past 24 hours, the price of Hbar has been facing rising bearish pressure as it failed to surge above $0.2. Hbar recorded a drop of 2.38%, reaching a low of $0.1924.

>Related: Is Hedera (HBAR) a good investment in 2024?

Moreover, the trading volume for Hedera has surged by 0.29% over the same period, totaling around $217 million.

However, 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 2.2% to $8.16 billion.

Hbar’s Funding Rate Remains Positive Despite Bearish Threat

The cryptocurrency is experiencing increased downward volatility as it drops below the critical $0.2 level, with sellers working to keep the price in the Fibonacci channels.

Recent data from Coinglass reveals that $279,000 worth of Hedera transactions occurred during this unstable period.

Out of this, buyers liquidated $230,000 in trades due to diminishing hopes for price increases, while sellers faced losses totaling $49,000.

Amid these bearish market conditions, Hedera’s open interest has dropped by 6.6% in the past 24 hours, amounting to $197 million.

This surge in open interest, a measure of unresolved trading contracts, signals a decline in trading activity.

However, market indicators point to a likely upward trend soon. The positive funding rate of 0.0047% for HBAR signals a stronger presence of buyers, potentially driving the market higher.

Hedera Price Prediction: Technical Analysis

HBAR is currently facing significant bearish pressure as it attempts to break past the pivotal $0.2 resistance level. This mark has become a formidable barrier, consistently thwarting any attempts at upward progress.

As of the time of writing, HBAR is priced at $0.193, reflecting a decline of over 2% within the last 24 hours.

Facing difficulty in breaking past the $0.2 resistance, the HBAR/USDT pair sees short-term holders potentially ready to sell off their stakes at this level. However, buyers are actively keeping the price just below this threshold.

Should HBAR manage to sustain itself above $0.2, there’s potential for a rally towards the $0.21 mark, and a successful breach of this resistance might set the stage for a rise to $0.25.

Conversely, if HBAR remains below the EMA20 line on the 1-hour chart, this could signal sellers to push the price further down towards $0.18. Should this downward trend persist, it could reinforce seller dominance and potentially lower the price to $0.17.

Hedera Price Prediction: What to Expect Next?

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

Long-term: According to the latest Hedera Hashgraph price prediction from Coincodex, the price of Hedera Hashgraph is expected to decrease by 9.99%, reaching $0.178872 by April 25, 2025. Coincodex’s technical indicators suggest that the current market sentiment is bearish, while the Fear & Greed Index stands at 47, indicating a neutral sentiment.

Over the past 30 days, Hedera Hashgraph has experienced 15 green days, with a price volatility of 10.96%. Based on this forecast, it is currently not advisable to purchase Hedera Hashgraph.

How much is Hedera price today?

HBAR price is trading at $0.193 at the time of writing. The HBAR price has dropped by over 2% in the last 24 hours.

What is the Hedera price prediction for March 26?

Throughout the day, the Hbar price might aim for a hold above $0.2. If the price holds above $0.2, we might see a trade around $0.21. On the down side, $0.18 is the range.

Is Hedera a Good Buy Now?

According to long-term forecasts, the HBAR price might reach $0.178 by