03 October 2022 : 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.
Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,349,851,200. The total trading volume stands at $55,016,313,716. Bitcoin shares 39.79 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,561.70 level after an upward movement of 1.82%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.21 percent reaching to $1,326.48 during the previous 24 hours.
While publishing this blog, BNB traded at $288.52, following a price change of 1.89% within the same time frame. XRP the native coin of XRP is down by -0.62 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.41% 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.
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||$0.061||Support Level 1||$0.056|
|Resistance Level 2||$0.064||Support Level 2||$0.053|
|Resistance Level 3||$0.066||Support Level 3||$0.051|
The daily chart of Hedera shows that the HBAR price has surged up with a 0.13% increase in past 24 hours. The price value of the Hedera (HBAR) coin is standing at $0.057 with market capitalization $1,317,282,624.00 USD. HBAR price changes -2.65% over the week while the trading volume is hovering around $31,436,886.00 USD.
HBAR price analysis for 03 October 2022 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.
|Simple Moving Average (10)||0.059||Sell|
|Exponential Moving Average (10)||0.059||Sell|
|Simple Moving Average (20)||0.060||Sell|
|Exponential Moving Average (20)||0.059||Sell|
|Simple Moving Average (50)||0.064||Sell|
|Exponential Moving Average (50)||0.064||Sell|
While HBAR’s Williams %R indicator is at -75.03 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The immediate resistance level for HBAR prices is at the psychological mark of $0.061. If everything goes well the coin might try to break above $0.064 mark. Conversely, the broken trend line might bring the price back to $0.056 support level. RSI implying consolidation phase while trading at 50 and is trying to break out of the neutrality zone. The MACD line is standing below of the signal line after a crossover. Hedera investors need to wait for any directional change over the daily chart.
From the technical analysis, the overall trend of the Hedera is still bearish; however, the price action might shows an attempt a bullish reversal with its bullish engulfing candle pattern. Therefore, if HBAR manages to stay above $0.056, it can provide an excellent long opportunity for HBAR communnity.