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- 1 HBAR price prediction is bearish for October till it trades below the $0.0600 level.
- 2 Hedera price is in a downtrend and sellers are active.
- 3 HBAR crypto price is trying to defend $0.0450 support.
HBAR price prediction is bearish for the current month till HBAR crypto trades below the $0.0600 level. It formed a bearish pattern and sellers seem to continue their dominance on the higher levels.
Hedera price is in a downtrend and trading below the 50-day and 200-day EMA. The sellers seem more active as compared to buyers so the downtrend might continue in the coming days.
In the last month, HBAR price was stuck in the narrow range between $0.0450 to $0.0550. Buyers and sellers both tried to break either side of the range. But prices face rejection from both sides and continue to trade in the range.
In the mid of September, HBAR crypto witnessed a massive spike in the buying volume and prices also reacted positively.
It created hope for a bullish trend reversal but the 50-day EMA turned out as a strong hurdle and prices faced rejection. It shows that the previous up move was a bull trap and the longer-term trend is down.
HBAR price is trading at $0.0483 with an intraday decline of 1.02%. The 24-hour volume to market cap is 2.41%.
Will the HBAR Price Fly or Decline?
HBAR price prediction favors the bears and no signs of recovery are visible. The short-term up move is facing rejection shows that sellers are active and more downfall is possible.
Till Hedera’s crypto price is trading below $0.0600 it is expected to remain in bear grip. However, if the situation reverses and buyers succeed in breaking the $0.0600 hurdle. Then a sharp rise toward $0.0750 is possible.
The technical analysis suggests, that the HBAR price is in a bears’ grip and might fail to show a comeback in October.
Hedera Price Bearish on a Multiple Time Frames
Hedera price is bearish on a multiple time frame. The HBAR/BTC pair is trading at 0.00000174 with an intraday decline of -0.57%. The pair is also bearish and forming a bearish pattern.
The MACD curve might generate a negative crossover indicating that bearish momentum might continue. The RSI at 41 slopes down also denotes weakness and suggests more fall is possible.
Conclusion
HBAR price prediction stays bearish and suggests more downside is possible.
Hedera price is on a seller’s radar and short-term up moves are getting rejected. The analysis suggests HBAR crypto might decline further and test the previous lows.
Technical Levels
- Resistance levels: $0.0596 and $0.0650
- Support levels: $0.0450 and $0.0421
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.