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- 1 HBAR price prediction suggests Hedera crypto price may reverse upward.
- 2 Hedera price is trying to climb above the 50-day EMA to reverse the trend.
- 3 HBAR crypto witnessed a massive spike in the buying volume.
HBAR price prediction is bullish and suggests a significant rise is possible in the short run. Hedera crypto price is reversing upward from its demand zone and showing initial signs of a trend reversal.
Hedera price is trading below the 50-day and 200-day EMA showcase downtrend. But the EMAs are sloping sideways, denoting bears are losing momentum and might spend some time in consolidation.
For the past few weeks, HBAR price traded with a bearish bias and declined by forming lower lows. It eroded the majority portion of its previous gains and returned back to the long-term demand zone.
The downfall took a halt near $0.0450 and the price formed a bullish hammer candle. At the same time, HBAR crypto witnessed a massive spike in buying volume and the price was positively impacted.
It shows that some genuine investors had turned bullish and were trying their best to rebound.
Hedera price is trading at $0.0503 with an intraday decline of -2.71%. The 24-hour volume to market cap is 3.72%. The HBAR/BTC pair is trading at 0.00000189 with an intraday decline of -3.08%.
HBAR Price is Reversing; Fresh Buyers are Active
HBAR price recovered approximately 15% from its recent swing low. It shows that buyers are active near the demand zone. So, it will be difficult for the sellers to drag the price further down.
The price behavior of the Hedera crypto is quite volatile, indicating that the speculators are active.
They may try to push the price higher for the short term. But the confirmation of the bullish trend reversal will come when buyers are able to sustain the price above the 200-day EMA.
Hedera Price Analysis on Weekly Time Frame
Hedera price formed a Doji candle on a weekly time frame. The crypto leader BTC price regains the $26500 level which improves the market sentiment. If the overall crypto market continues to recover, then it may positively impact the HBAR price.
The MACD curve is reversing upward and might generate a positive crossover. It indicates that the bulls are returning back on track. The RSI at 45 denotes mild weakness but if the prices recovers, then RSI will also begin to rise upward.
Conclusion
HBAR price prediction stays bullish and suggests a rise in the upcoming weeks. Hedera price took support near the demand zone and showed signs of a trend reversal.
The analysis suggests the correction in the HBAR crypto has taken a halt and the possibility of an upside reversal is high.
Technical Levels
- Resistance levels: $0.0689 and $0.0757
- Support levels: $0.4500 and $0.0400
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
