HBAR Coin Price Prediction: What's the Next Move?

Bittime - HBAR Coin is a digital asset that powers the Hedera Hashgraph network, one of the fastest and most energy-efficient blockchain platforms in the world. With its technological backing, Hedera is attracting the interest of institutional and retail investors, making HBAR one of the promising projects in the crypto market.

HBAR Coin is garnering attention due to its significant price spike. In the last 24 hours, HBAR Price rose by more than 5% and recorded a gain of 37% over the last week. Will this momentum continue? This article discusses the latest technical analysis and price predictions for HBAR coin.

Technical Analysis: Key Indicators of HBAR Price

Bullish Momentum on Ichimoku Cloud Chart

On Ichimoku Cloud analysis, HBAR Price is showing strong bullish signals. Price is currently trading well above the green cloud, signaling positive momentum. The Tenkan-sen is above the Kijun-sen, confirming the uptrend, while the Lagging Span suggests that the momentum is likely to continue.

HBAR Ichimoku Cloud. Source: TradingView

If this bullish momentum holds, HBAR's next price target is at resistance at $0.40. A break above this level could take HBAR Price to new highs since 2021.

Also read: Why the price of Hedera Coin (HBAR) is rising: Here's the Analysis!

Uptrend Strength on DMI Indicator

Source: TradingView

The Directional Movement Index (DMI) also indicates a strong uptrend. The ADX, which measures trend strength, is currently at 

45.8, confirming that the bullish trend is quite solid. However, traders should watch the support at $0.33 in case of a correction.

Also read: Hedera (HBAR) Coin: Trading Volume Breaks $2 Billion, Bullish?

HBAR Coin Price Prediction: What Can We Expect?

Based on technical analysis, HBAR Price is currently in a strong bullish phase. If the buying pressure remains steady, HBAR could target the $0.40 level in the near future. A break above this resistance could potentially take HBAR Price towards a new psychological level of $0.50.

However, if momentum weakens, support at $0.33 will be the key zone. A break below this level could trigger further declines towards $0.29, or even $0.26 if selling pressure increases.

Conclusion

The HBAR coin price prediction shows promising bullish opportunities, especially with the support of technical indicators such as Ichimoku Cloud and DMI. However, it is important that you always monitor key resistance and support levels before making an investment decision.

HBAR Coin continues to attract the attention of investors, being one of the blockchain projects that offer long-term potential in the digital asset ecosystem.

FAQ

What is HBAR Coin?

HBAR Coin is a digital asset of the Hedera Hashgraph network, known for its high-speed, energy-efficient, and secure blockchain technology. HBAR is used to pay for transactions and support applications on the Hedera network.

What is the future price prediction for the HBAR coin?

Based on technical analysis, HBAR is expected to reach resistance at $0.40 in the near future if the bullish momentum holds. However, in the event of a correction, the support level at $0.33 is an important zone to monitor.

What factors affect the price of HBAR?

The price of HBAR is influenced by the adoption of the Hedera network, developments in blockchain technology, crypto market sentiment, as well as technical indicators such as Ichimoku Cloud and DMI that show the current market trend.

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References

coinstats.app, Hedera (HBAR) Price Rises 5% with Trading Volume Surpassing $2 Billion, accessed on January 19, 2025.

Author: AWW