Analysis of HBAR Price Today, Rises 11%!

Bittime - HBAR price today rises significantly with a strong bullish pattern. Hedera (HBAR) also shows promising positive momentum. 

This change in market sentiment occurred ahead of Donald Trump's inauguration as US president on January 20 2025, which appears to have triggered a price rally in the last 24 hours.

HBAR Price Today

Source: Bittime.com

Based on Bittime market, pToday's HBAR price has increased by 11.28% in the last 24 hours and is currently trading at around IDR 6,165 or around $0.38, accompanied by an increase in trading volume of 101%.

Read Also: Hedera collaboration with LayerZero and Quantum Transactions

Analysis of HBAR Price Today

Today's HBAR price increase broke the long consolidation pattern and symmetrical triangle pattern previously formed on the daily chart. This breakout is a strong signal that HBAR is ready to continue its positive momentum.

HBAR not only managed to break out of the symmetrical triangle pattern, but also passed the resistance level. If HBAR manages to stay above the $0.34 level, there is potential for a follow-up rally of up to 35%, which could take the price to the $0.465 level.

Besides that, The Relative Strength Index (RSI) of HBAR also shows that although the price of HBAR has risen significantly, this asset has not yet reached the overbought zone.  

HBAR Price Today: Domination of Long Position

The bullish sentiment of HBAR price today is also reflected in the on-chain data. The HBAR/USDT Long/Short ratio on Binance is 2.32, which means there are more than two long positions for every one short position.

Currently, 69.9% of top traders on Binance hold long positions, while only 30.1% hold short positions. This dominance of long positions shows strong optimism among investors regarding HBAR's prospects.  

Read Also: Latest Hedera (HBAR) Price Prediction: Could It Rise to $0.39 Level?!

Prediction of HBAR Price Today

With favorable technical conditions and market sentiment, HBAR has a chance to continue its rise. If it is able to stay above the $0.34 level, the potential for today's HBAR price to rise to $0.465 is very possible. 

For those of you who want to take advantage of this momentum, remain careful and carry out in-depth analysis before making an investment decision.  

Read Also: Hedera Price Prediction (HBAR) 2025 and Long Term

Hedera (HBAR) FAQs

What is Hedera (HBAR)?

Hedera is a platform that uses unique “hashgraph” technology to support DApps. Hedera's native token, HBAR, is used to pay for transactions on the network and maintain security through a staking mechanism.  

What are the advantages of Hedera (HBAR) compared to other blockchains?

Hedera offers high transaction speeds, low fees, and much better energy efficiency than other blockchains. Hedera also has strong governance through a global member board that includes major companies such as Google and IBM.

How to Buy Hedera (HBAR)?

Hedera (HBAR) can be purchased via various exchange platforms such as Bittime, just by visiting the trade page on the official Bittime website. 

How to Buy Crypto with Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference

AMB Crypto, Hedera: How a 101% volume surge could fuel HBAR’s rally, accessible on January 17, 2025.

Author: IPR