Hedera Price Analysis: HBAR Plunge -10.25%, How Low Will It Drop?


  • Hedera currently trades near $0.044
  • Hedera has a medium term resistance at $0.071.
  • HBAR fall -13.64% in seven days.
  • The current trading volume of Hedera is at $44,909,996.00.

10 June 2023 : In this article we will walk you through Hedera price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Hedera, Is HBAR a good investment? Hedera support & resistance levels etc. But before diving deep into the HBAR technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,044,114,024,968. The total trading volume stands at $48,542,985,012. Bitcoin shares 47.72 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $25,681.68 level after a decline of -3.77%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -5.7 percent reaching to $1,744.86 during the previous 24 hours.
While publishing this blog, BNB traded at $236.14, following a price change of -9.99%within the same time frame. XRP the native coin of XRP is down by -8.28 and currently trading at $0.49. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Hedera Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Hedera (HBAR)

HBAR Resistance Levels HBAR Support Levels
Resistance Level 1 $0.067 Support Level 1 $0.058
Resistance Level 2 $0.071 Support Level 2 $0.054
Resistance Level 3 $0.076 Support Level 3 $0.050

Hedera Performance

The daily chart of Hedera shows that the HBAR price has a downward movement with a -10.25% decrease in past 24 hours. The price value of the Hedera (HBAR) coin is standing at $0.044 with market capitalization $1,387,188,882.00 USD. HBAR price changes -13.64% over the week while the trading volume is hovering around $44,909,996.00 USD.

Hedera Price Analysis

HBAR price analysis for 10 June 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Hedera.

Moving Averages Price Indicator
Simple Moving Average (10) 0.062 Sell
Exponential Moving Average (10) 0.062 Sell
Simple Moving Average (20) 0.060 Sell
Exponential Moving Average (20) 0.060 Sell
Simple Moving Average (50) 0.061 Sell
Exponential Moving Average (50) 0.061 Sell

While HBAR’s Williams %R indicator is at -41.258 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing above of the signal line after a positive crossover. Hedera investors need to wait for any directional change over the daily chart. The Hedera has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take HBAR price below the crucial support level of $0.058. The relative Strength Index (RSI) indicates that the HBAR coin is in heading towards overbought zone, as RSI is at 60.

Conclusions

As of now, Hedera is not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the HBAR move into the positive zone. In 2022 and beyond, the Hedera price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.