finbold.com
The last 24 hours have been the most eventful for Hedera (HBAR) traders in well over a month as a BlackRock-related misunderstanding caused the token to rapidly rocket from $0.09 to $0.17 within 2 hours, only to start dropping again.
As it turned out, an independent project to tokenize BlackRock’s (NYSE: BLK) ICS U.S was misinterpreted as an official effort driving the enthusiasm – and the prices – toward the sky.
Still, despite the misunderstanding getting cleared up in the meantime – bringing HBAR’s price back down – the awakening of Hedera from its month-long slumber raised the question: what is next for the token?
In its quest to find answers, Finbold decided to consult the predictive artificial intelligence (AI) algorithms of a platform specializing in predicting future cryptocurrency prices – PricePredictions – on how HBAR might fare by May 1.
AI forecasts Hedera price on May 1
According to the AI’s prediction, while HBAR will not see a parabolic rise following the misunderstanding, the momentum is likely to be enough to cause a moderate uptrend.
Indeed, the platform forecasts that Hedera will continue climbing slowly over the coming 7 days and will find itself at $0.137059 on May 1, 2024 – 2.13% above its press time price of $0.1342.
At the same time, crypto experts are more bullish on the token than AI as analysts known as Credible Crypto on YouTube and CrediBULL Crypto on X opined in an April 24 post that HBAR is poised for a substantial surge.
“Looking for something like this after completing a nice 5 wave impulse off the lows. Note the first step is a break in lower timeframe market structure to kick things into gear. After that if we can print a higher low we should be able to run it back to the highs.”
In fact, the expert’s prediction also forecasts a dramatic rise toward $0.22 before the end of April 25.
HBAR price chart
Whether the coming 48 hours bring a surge to $0.22 or the coming 7 days a climb toward $0.137, HBAR’s recent performance – even if driven by misunderstanding – is nothing short of impressive.
Indeed, even with the most recent fall, Hedera is 52.18% in the green in the last 24 hours in the crypto market and 71.68% up on the weekly chart. HBAR price today, at press time, stands at $0.1342.
Longer-term, Hedera has also been showing significant strength as it rose 56.17% since the start of 2024 and as much as 119.90% in the last 52 weeks.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.