Hedera (HBAR) Price Prediction for March 12

Over the last 24 hours, the price of Hbar has been witnessing a minor bullish momentum around $0.21. The price initially dropped below $0.18; however, it is currently facing a surge above $0.21. The price has now recorded a gain of nearly 7.12%, touching a high around 0.2143. Additionally, Hedera’s trading volume has surged 19.54% in the last 24 hours, reaching $673 million.

Looking at a longer timeline, Hedera’s price dropped below $0.39 on December 3 and has been decreasing since then. On February 3, the price of HBAR crashed heavily as it dropped below $0.2. Additionally, the recent hack in Bybit consolidated the price around $0.2. In the last 24 hours, Hedera’s market capitalization has surged by 7.13% to $8.92 billion.

HBAR’s Funding Rate Becomes Negative

The cryptocurrency market’s growing bearish sentiment has left the Hedera (HBAR) price hovering around the $0.2 mark, with difficulties in gaining bullish traction. In the last 24 hours, the HBAR price has made efforts to stage a comeback, maintaining above $0.21.

According to Coinglass, approximately $654K in Hedera transactions were settled recently, with $336K coming from buyers who later closed their positions due to concerns over potential price drops. Meanwhile, sellers faced losses around $318K.

Despite these challenges, a surge in aggressive buying at lower price points has shifted the overall market sentiment for Hedera to bullish. This change is evident in the total open interest for Hedera, which monitors unsettled trading contracts and has increased by 9.61% to $153 million, signaling growing trader engagement.

Nevertheless, a negative funding rate of -0.005% for HBAR indicates mounting seller pressure, which could lead to a potential downward price correction in the short term.

Hedera Price Prediction: Technical Analysis

HBAR’s price has recently triggered a recovery rally, successfully climbing above the $0.21 mark. Currently, buyers are aiming to sustain the price above this level, targeting a breach of the next immediate resistance. As of now, HBAR is trading at $0.211, having risen over 7% in the last 24 hours.

The HBAR/USDT pair is nearing the immediate resistance at $0.217, a critical point where short-term holders (STHs) might choose to sell off, potentially capping further gains. However, there’s growing momentum that could help buyers overcome this hurdle as demand increases.

Should the price fall below the EMA20 trend line on the 1-hour chart, sellers could drive it back down towards $0.176. Nonetheless, with the Relative Strength Index (RSI) maintaining a position above the midpoint at level 55, there’s potential for a retest of the resistance channel. Securing a position above $0.217 would bolster buyers’ control, possibly propelling the trading pair towards $0.288.

Hedera Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, Hbar price might aim for $0.217. If the price moves above that level, we might see a trade around $0.288. On the down side, $0.176 is the range.  

Long-term: According to Coincodex’s current Hedera Hashgraph price prediction, the price of Hedera Hashgraph is anticipated to increase by 14.52%, reaching $0.231683 by April 11, 2025. The technical indicators from Coincodex suggest a bearish current sentiment, while the Fear & Greed Index is at 34, indicating ‘Fear’. Over the past 30 days, Hedera Hashgraph has experienced 13 green days, which represents 43% of the period, with a price volatility of 7.87%. Based on this forecast, it is currently considered an unfavorable time to purchase Hedera Hashgraph.

Investment Risks for HBAR

Investing in Hedera can be risky due to market volatility. Investors should:

• Conduct technical and on-chain analysis.
• Assess their financial situation and risk tolerance.
• Consult with financial advisors if necessary.