Hedera Price Analysis: Will HBAR Break the Mark of 0.06?

• Hedera (HBAR) is currently trading at $0.04953087 with a rise of 8.82% in the 24 hours.
• Its price is observing an increase of 6.01% in the last 7 days.
• HBAR’s live market cap is at $1566840000.

Trend Evaluation

By evaluating the price data of the HBAR coin, it can be said that it is in a downtrend currently. The price inclined by 6.01% in the last seven days, and we can say that Hedera (HBAR) is underperforming right now. From its peak price of $0.569229, it fell -91.30% in the last 2 years. The coin demolished the major investor’s wealth. The current market sentiments are not good about the coin. There is no huge volume for it. Buyers are not available in the present market scenario and they are also not taking any interest in buying. The market is under the control of the bears.

Hedera (HBAR) Technical Analysis

The price of Hedera (HBAR) has slipped below 50 and 200 EMA, which suggests that the price is in a bearish trend. The coin could fall more in value in the upcoming week if the sellers continue to push the price downwards. The price is getting consolidated near 200 days EMA again which shows that bears are not in the mood to give power to bulls. A death cross has been seen between 50 Day EMA and 200 Day EMA which is a negative sign.

The technical indicator MACD is also in the negative zone. The MACD line at 0.00133477 and signal line at -0.00189898 is below the zero line, suggesting the MACD is in negative territory and giving bearish signals.

The current value of RSI is 54.63 points. The 14 SMA line is currently below the median line, around 35.30 points that show bearish sentiment in the market. The 14 Day SMA line below the median line indicates a bearish trend. The bearish sentiment spreads around the market as the price is currently at an oversold zone.

Trendline Analysis:

The Hedera (HBAR) price has respected its significant trendline support, and it is going toward resistance. If the price breaks the trendline, then it will go up to the next resistance and if it gets rejected by the resistance, then it will come back to the current support.

Volume Analysis:

The Hedera (HBAR)’s trading volume of 24 hours is $153548997, with a 1121.60% increase in volume in the last 24 hours. There is a substantial significant boost in the volume of the coin.

Technical Levels-

Support – The current Support Level of HBAR is $0.041.

Resistance –The current Resistance Levels of HBAR are $0.06.

Conclusion

Hedera (HBAR) is facing a difficult time in the market. The price action suggests that the price may fall more in the upcoming days because it broke its primary trendline support level. Stargate Finance Network’s price shows a pessimistic scenario at the moment. Major reliable indicators like EMA, RSI, and MACD give negative signals about the Stargate Finance Network coin. The fear is growing among investors because of the poor performance of the coin. Recovery signs are not visible in the coin as well.

Disclaimer

The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.