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ThecoinrepublicCryptoHedera Price Prediction: Will HBAR Investor Hit...
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Hedera Price Prediction: Will HBAR Investor Hit $1.0 Level by The End of 2022?

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  • The Hedera (HBAR) coin is shown sideways in a narrow horizontal range.
  • HBAR crypto price dropped below a bearish price pattern due to the recent collapse of FTX.
  • Trading volume is declining and was reported last night at $13.8 million.

According to the ongoing price action, Hedera (HBAR) could enter into a bearish price pattern. For the past few days, HBAR crypto has been trading sideways on a daily basis. So far, the digital asset has impulsively recovered its cost and it is going to close the week in the green. Buyers have gained about 6.4% of the cost so far this week.

Before the collapse of the FTX exchange, buyers were barely managing HBAR costs in a falling wedge pattern over the past 24 weeks. Due to this sharp sell-off, buyers have lost nearly 80% of what they cost this year until the bears reached a low of $0.0424 on Nov 09. The buyers sit at this yearly low, there is a possibility of a bounce-back at this level.

Against the USDT pair, Hedera coin against the USDT pair is down 2.46% in intraday trading session while the speculators bid at $0.0476 mark at press time. Market capitalization is down by 0.62% in the last 24 hours at $1.09 Billion as per CMC. However, Trading volume is decreasing and was reported at $13.8 Million last night. 

The HBAR crypto price is remaining below the 20 day moving average. As of now there is no trend until buyers left-up the crypto price above this immediate resistance level. Besides, the 30 day lowest level turned into the key defending zone. 

Stoch RSI is constantly expanding higher towards the overbought zone. Indicator shows little positivity in HBAT crypto but still there is no positive trend in price. Notably, On the daily price chart, the ADX stays higher at 27 level.

Conclusion 

The Hedera coin price often failed to break the $0.050 resistance level. Uncertainty is still remaining in HBAR crypto because trading volume is decreasing and anytime price may retest its annual bottom. 

Support level – $0.020

Resistance level – $0.050 and $1.0

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Ahtesham Anis
Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.
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