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- 1 Hedera crypto price was at $0.105 registering a negative intraday development of nearly 2.0%
- 2 The technical outlook showcases a positive outlook above the 20, 50 and 200-Day EMAs.
The Hedera crypto is holding lower on grounds for the last two intraday sessions. The crypto pair took dipped towards the lower side after a short term bull run which helped the crypto break out of a correction phase and reclaim higher levels.
Earlier, the HBAR crypto gathered momentum and climbed above $0.113, breaking out of the correction phase. Last week, the crypto extended its journey slowly and steadily upwards, which could be an early sign of a breakout.
However, the buyers played aggressive bullish bets on Monday due to which the price lifted off nearly 25% on Monday. The breakout on the higher side has invalidated the short-term correction phase.
Currently, the price is edging lower in the last two sessions. It might be due to the profit booking after a short-term gain. The crypto may resume to draw an upward trajectory if rises again after a pullback.
Short term Analysis of Hedera Crypto
Currently, the Hedera price is headed downwards for the last couple of sessions after a breakout. The $0.092 level may act as a demand zone and the price may resume on the higher side again if the bears fail to make a sharp reversal.
Fresh upside moves may be observed on the charts if the price breaks above the recent high which is also the recent supply level of $0.113 level.
Hedera Crypto Indicator Analysis
From a technical perspective, the HBAR price stays comfortably above the key EMAs of 20, 50, and 200-Day EMAs suggesting a positive outlook in the short term and long term. The EMAs may act as a dynamic support if the price nears those levels.
At the time of writing, RSI was placed at 70.20 points somewhere in an overbought zone. The 14-Day SMA line was placed at 64.89 points and headed upwards suggesting a positive trend prevailing. RSI may stabilize if the price consolidates or shows a pullback in the short term.
Hedera Price Prediction February 2024
Moreover, the price may correct more downside till the previous demand zone and $0.092 level before the buyers take control over the trend again. On the bearish side the crypto has the potential to hit the $0.092 levels.
Also, the positive outlook of our analysts hopes for the price to break above the recent high after which it may climb to higher levels including $0.13 and $0.15.
Hedera Crypto Price Prediction 2024
The most bullish observation is that Hedera price could gain to a high of $0.178 by the end of year 2024. On the contrary, the least bullish observation of our analysts is for the price to reach $0.145.
Hedera Price Prediction 2025
By 2025, the Hedera price may attain $0.238 as the highest price on the positive side. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $0.180 level.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
