In this Hedera (HBAR) price prediction for 2024, 2025-2030, we will analyze the price patterns of HBAR by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Hedera (HBAR) Current Market Status/h2
HBAR Current Market Status (Source: CoinMarketCap)h2 What is Hedera (HBAR)/h2
HBAR is the native utility token of the Hedera network. Hedera is a decentralized hashgraph distributed ledger technology. HBAR was launched during its ICO in 2018. Hedera network’s mainnet went live in 2019. Hedera network serves majorly as a distributed file service.
Rather than being built on any blockchain, the Hedera network is built on the hashgraph model that is secured by the proof-of-stake (PoS) consensus mechanism. It uses a patented algorithm that makes it a non-forkable network. The transactions on Hedera are faster and occur at low costs. The hashgraph distributed ledger is secure and immutable as Hedera deploys asynchronous byzantine fault tolerance (aBFT).
Recently, Hedera has integrated MetaMask via HIP-583, expanding user accessibility. Additionally, Hedera concluded a successful proof-of-concept (PoC) trial for stablecoin remittances was conducted with Shinhan Bank and SCB TechX.
HBAR 24H Technicals/h2
Source: TradingView)
h2 Hedera (HBAR) Price Prediction 2024/h2
Hedera (HBAR) ranks 32nd on CoinMarketCap in terms of its market capitalization. The overview of the HBAR price prediction for 2024 is explained below with a daily time frame.
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In the above chart, Hedera (HBAR) laid out a horizontal channel pattern. A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contract points. This is because it needs at least two lows to connect, as well as two highs. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. The longer the horizontal channel, the stronger the exit movement will be. There is frequently a price on the channel after exit. the exit often occurs at the fourth contact point on one of the horizontal channel’s lines.
At the time of analysis, the price of Hedera (HBAR) was recorded at $0.1004. If the pattern trend continues, then the price of HBAR might reach the resistance levels of $0.09591, and $0.13685. If the trend reverses, then the price of HBAR may fall to the support of $0.08004, and $0.06700.
h2 Hedera (HBAR) Resistance and Support Levels/h2
The chart given below elucidates the possible resistance and support levels of Hedera (HBAR) in 2024.
HBAR/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Hedera (HBAR) for 2024.
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Hedera (HBAR) are shown in the chart below.
HBAR/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Hedera (HBAR) market in 2024.
In the below chart, we analyze the strength and volatility of Hedera (HBAR) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
HBAR/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Hedera (HBAR).
h2 Comparison of HBAR with BTC, ETH/h2
Let us now compare the price movements of Hedera (HBAR) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs HBAR Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of HBAR is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of HBAR also increases or decreases respectively.
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Hedera (HBAR) between 2025, 2026, 2027, 2028, 2029, and 2030.
h2 Conclusion/h2
If Hedera (HBAR) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Hedera (HBAR) price prediction for 2024 is $0.15238. Comparatively, if unfavorable sentiment is triggered, the bearishHedera (HBAR) price prediction for 2024 is $0.0.04564.
If the market momentum and investors’ sentiment positively elevates, then Hedera (HBAR) might hit $0.2. Furthermore, with future upgrades and advancements in the HBAR ecosystem, HBAR might surpass its current all-time high (ATH) of $0.5701 and mark its new ATH.
This content was originally published by our partners at The News Crypto .
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The News Crypto
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