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- 1 HBAR price prediction for 2024 suggests a massive breakout in the Hedera crypto is possible.
- 2 Hedera price is in a recovery phase but lacks bullish momentum.
- 3 The EMAs in the HBAR crypto are preparing for the golden crossover.
HBAR price prediction for 2024 is bullish and suggests new highs may be visible. But the price will gain momentum when it succeeds in breaking out of the $0.0758 hurdle.
Hedera price is in a recovery phase and buyers are trying their best to hold the recent gains. The buying volume is also increasing and the price is also following the same direction. It shows that genuine buyers are investing money and accumulating the HBAR crypto at a cheaper price.
The 50-day and 200-day EMA is sloping upward and might show a golden crossover. If the crossover happens, then more participation of the investors might be visible.
Hedera price is sustaining above both the EMAs showcasing the uptrend and confidence of the bulls. The recent recovery looks reliable so the price is likely to hold the gains generated in October.
On the higher side, the $0.0758 level may act as a barrier for the bulls. So, investors need to be careful and should wait for the confirmation of the breakout to build fresh longs. Currently, HBAR price is trading at $0.0610 with an intraday decline of -4.39%.
HBAR Price Underperforms in Overall Crypto Market
HBAR price prediction says this crypto has undeformed in the last few months so it has more scope for rallying.
If the recovery continues and buyers succeed in breaking out of the $0.0758 hurdle, then the price may show a sharp rise and 20% to 30% more upside will open.
Hedera crypto has formed a strong base near $0.05000. So if the price retraces down, then the possibility of bouncing back remains high.
Meanwhile, overall crypto market sentiment is positive, and dominant crypto BTC holds a $35K level. So, HBAR crypto and other reliable altcoins may continue their recovery.
The analysis suggests Hedera price is undervalued and bulls are preparing for a massive breakout.
Will Hedera Price Consolidate For a Few Weeks?
Hedera price forming doji candle on the weekly time frame chart. It shows indecisiveness and the presence of sellers near $0.0700.
In the last four weeks, HBAR crypto recovered 40% approx. from the yearly low. So prices may consolidate for some time before continuing the upward momentum.
The MACD displayed a positive crossover and the histogram is forming higher high bars. It shows the strength of the bulls and more room for the upside is open.
Conclusion
HBAR price prediction for 2024 is bullish and suggests that bulls will lead the upcoming rally. In the coming months, if the bulls succeed in breaking out of the $0.0758 hurdle, then new swing highs may be visible.
The analysis suggests that Hedera crypto is undervalued and bulls are preparing for the massive breakout.
Technical Levels
- Resistance levels: $0.0758 and $0.0984
- Support levels: $0.0500 and $0.0452
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.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
