Hedera Hashgraph Price Prediction: Bulls Waiting for Momentum

• The price of the coin is below the 20,50,100,200 days of Daily Moving Average
• The current price of the HBAR is at approximately $0.06956 with a decrease of around 3.96% during the intraday trading session
• The pair of HBAR/BTC is at 0.000002541 BTC and has declined by 3.66% in the last 24 hours.

The buyers must increase the buying and decrease the selling pressure to maintain the price of the HBAR crypto, so that investors can move to either side easily. However, it would be challenging for the bulls to give prices an upward momentum without proper action.

Hedera price was trading at approximately $0.0717 with a decrease of around 4.32% during the intraday trading session. The HBAR price was moving upwards with a recovery curve. The increasing price of the HBAR coin indicates the acquisition of the buyers. The downward momentum might be challenging for HBAR crypto and will require a significant effort to overcome. If the token gains an upward trend, the price may reach the primary resistance level of approximately $0.091, and if the bullish trend persists then the price may drop upto the secondary resistance of $0.1157 and if the bulls call it off, then the price may reach the primary support level of around $0.056 and it may drop upto the secondary support of $0.035.

Source: HBAR/USD by TradingView

The volume of the coin has declined by approximately 51.80%, indicating an increase in short-selling pressure, but also suggesting that the bulls are getting involved in the trade. The volume top market cap ratio is. The decreasing volume indicates that the sellers are attempting to get a grip on HBAR.

The Technical Analysis of HBAR

Source: HBAR/USD by TradingView

The Relative Strength Index is moving toward the oversold zone, and investors must monitor its movement to see if it moves towards neutrality. The price of the token is below the 20,50,100,200 days of the Daily Moving Average. HBAR investors are eagerly waiting for any directional change over the chart.

The HBAR market is easy to manipulate due to the stillness of the bulls, making it easier for the whales to move. The Current RSI is 54.67 and the AVerage RSI is 49.46. The MACD and MACD Signal have collapsed giving a positive crossover.

Conclusion

The current trend for Hedera Hashgraph appears to be bearish, with the stillness of the bulls allowing the bears to control the market. Investors should monitor the technical indicators, including the Relative Strength Index (RSI) and moving averages, for any directional change in the market. Overall, HBAR investors are eagerly waiting for a movement in the market and for the bulls to take control.

Technical Levels

Support Levels: $0.05618 and $0.03566

Resistance Levels: $0.0917 and $0.1157

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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