Home
News
- 1 HBAR price prediction remain bullish in the long term but suffers due to overall market sentiment
- 2 Hedera team (creators of HBAR crypto) confirmed smart contract exploit on its mainnet
- 3 HBAR Price slipped below the 50 and 200 day EMA indicating short term downtrend.
HBAR price prediction suggests a rise in the long term. HBAR crypto may reach $0.1100 in coming months. However, in the short term, HBAR price is suffering due to selloff in the overall cryptocurrency market. Recently, on March 10, 2023 Hedera (HBAR) team confirmed a smart contract exploit on its mainnet that led to the theft of several liquidity pool tokens. Hedera has not confirmed the exact amount of tokens that were stolen but the team is working on a solution to remove suspicious activity.
HBAR crypto price did not react violently to this news and is currently trading with a mild intraday loss of 0.17%. However, in the last 24 hours HBAR price gained 7% despite the mainnet exploit. At the beginning of January, HBAR price managed to climb above the 50 day EMA which turned the short term trend in the direction of bulls. Later, HBAR price picked up the positive momentum and the price rallied by approximately 120% in a short span of time. Moreover, HBAR crypto succeeded in breaking out of the 200 day EMA. The bulls tried their best to hold the higher levels.
Will HBAR Price See a Turnaround?
HBAR price prediction would have turned highly bullish if it broke out of the $0.1000 hurdle level; however, the price formed a bearish rejection candle. After a little consolidation, HBAR crypto started formed lower-low candles. HBAR slipped below both EMAs and failed to give a golden crossover indicating that a short term downtrend has begun. However, if the overall market sentiment improves, then some positive impact in HBAR price may be witnessed. Otherwise, if the downtrend continues, then the bears may drag the price down toward yearly lows at $0.0356 level.
What do HBAR Crypto Indicators Say?
HBAR crypto technical indicators are favoring the bears and the chart structure is also bearish. However, HBAR price is near the important support level of $0.0500 and it is expected to consolidate for some time before giving clear signals about its direction in the future. The MACD had generated a negative crossover indicating that the bears are strengthening their grip. On the other hand, the Relative Strength Index (RSI) at 30 sloping sideways denotes oversold zone.
Conclusion
HBAR price prediction suggests an increase in the price in the long term. However, HBAR crypto price will gain momentum after climbing above the 200 day EMA. The technical analysis shows the HBAR prices are in bear grip and if overall market sentiment does not improve then the bears might pull the prices further down.
Technical levels
Resistance levels : $0.0800 and $0.1000
Support levels : $0.0500 and $0.0356
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
