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.
