Hbar price attempted to surge above $0.2 but faced a rejection

In the past 24 hours, the price of Hbar attempted to surge above $0.2 but faced a rejection. Hbar recorded a gain of 5.8%, reaching a high of $0.195.

The price of Hbar attempted to surge above $0.2 in the past 24 hours but faced rejection. Hbar recorded a gain of 5.8%, reaching a high of $0.195. Moreover, the trading volume for Hedera has surged by 37% over the same period, totaling around $212.81 million.

On December 3, Hedera’s price dropped below $0.39 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 increased by 5.6% to reach $8.17 billion.

HBAR’s Funding Rate Stays Positive Amid Bullish Attempts

Hedera (HBAR) is approaching the critical $0.2 level with increased upward volatility, while sellers are working to keep the price below Fibonacci channels.

Recent data from Coinglass shows that $338,000 worth of Hedera transactions occurred during this unstable period. Out of this, buyers liquidated $179,000 in trades due to diminishing hopes for price increases, and sellers faced losses totaling $159,000.

Amid these bullish market conditions, Hedera’s open interest has surged by 3.5% in the past 24 hours, reaching $198.5 million. This surge in open interest, a gauge of unresolved trading contracts, signals a rise in trading activity.

Furthermore, market indicators suggest a likely upward correction soon. The positive funding rate of 0.0095% for HBAR indicates a growing dominance of buyers, which could drive the market higher.

HBAR Price Prediction: Technical Analysis

Currently, HBAR is facing significant bearish pressure as it attempts to rise above $0.2. The $0.2 mark represents a crucial resistance level, with bears successfully preventing any upward movement beyond this point and pushing the price toward the immediate support levels.

At present, HBAR is trading at $0.192, having surged by more than 4% in the last 24 hours.

The HBAR/USDT pair is struggling to break above the immediate resistance at $0.2, a critical point where short-term holders may choose to offload their holdings. However, despite these challenges, there remains a possibility that increased buying pressure could help buyers breach this barrier eventually.

If the price holds below the EMA20 line on the 1-hour chart, it is likely that sellers will push it down further towards $0.18. A continued decline from this level could strengthen the sellers’ grip, potentially driving the price down to $0.17.

On the other hand, if HBAR manages to stay above the EMA trend lines, there could be a potential rally back to the $0.2 mark. Breaking above this resistance could pave the way for the price to climb past $0.21.

Hedera Price Prediction: What to Expect Next?

Short-Term: According to BlockchainReporter, Hbar price might aim for $0.2. If the price moves above $0.2, we might see a trade around $0.21. On the downside, $0.18 is the range.

Long-Term: According to Coincodex’s current Hedera Hashgraph (HBAR) price prediction, the cryptocurrency is expected to decrease by approximately 5.53%, reaching a price of $0.181703 by April 23. Coincodex’s technical indicators currently show a bearish sentiment, while the Fear & Greed Index stands at 45, indicating “Fear.” Over the past 30 days, Hedera Hashgraph recorded 14 green days out of 30 (47%), accompanied by price volatility of 10.77%. Based on this analysis, Coincodex suggests that it is currently not a good time to purchase Hedera Hashgraph.

How Much is Hedera Price Today?

HBAR price is trading at $0.192 at the time of writing. The HBAR price has surged by over 4% in the last 24 hours.

What is the Hedera Price Prediction for March 24?

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

Is Hedera a Good Buy Now?

According to long-term forecasts, the HBAR price might reach $0.181 by April 23. This makes HBAR price a bad investment considering its monthly