American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

HBAR price prediction as Hedera forms a dangerous pattern

by admin January 23, 2025
January 23, 2025
HBAR price prediction as Hedera forms a dangerous pattern

Hedera Hashgraph price formed a double-top chart pattern, pointing to an eventual pullback as the recent rally lost momentum. The HBAR token retreated to $0.3200 on Thursday morning, down by about 20% from its highest level this year. So, is the HBAR token a good coin to buy or is it about to plunge?

Hedera Hashgraph price analysis

The daily chart shows that the HBAR price bottomed at $0.0410 in November last year after remaining in a consolidation phase for months. 

This bullish breakout happened after Canary filed for a spot HBAR ETF with the Securities and Exchange Commission (SEC). 

It also happened as other popular altcoins like Ripple and Stellar Lumens went parabolic amd spot ETF approval hopes. 

HBAR token has moved above all moving averages and the Ichimoku cloud, a sign that bulls are in control for now. 

However, there are signs that the coin has formed a double-top chart pattern at $0.3927. This is a common chart pattern that is characterized by twin peaks and a neckline, which in this case, is at $0.2345, its lowest swing on December 30. 

The Relative Strength Index (RSI) and the MACD indicators have all pointed downwards, a sign that it has lost the momentum. Therefore, from a technical perspective, it is likely to suffer a strong reversal, potentially to the neckline at $0.2345, down by 26% from its current level. This bearish view will remain if the HBAR price is below the double-top point at $0.3927.

Hedera chart by TradingView

On the positive side, Hedera Hashgraph may be forming a falling wedge chart pattern, which may stage a strong bullish breakout. It is also forming a bullish flag chart pattern on the weekly chart. 

This pattern is made up of a vertical line or the flag pole and a consolidation. The consolidation has been happening since November last year. Therefore, a break above the upper side of the flag at $0.4020 will point to more gains, potentially to the all-time high of $0.5833, up by 82% from the current level. 

Potential catalysts for the HBAR price

Hedera Hashgraph price has numerous possible catalysts that may push its price higher in the long term. 

First, there are rising odds that the Securities and Exchange Commission (SEC) will approve a spot Hedera ETF this year. Such a fund is possible because of the ongoing even under Gary Gensler, the agency did not claim that Hedera was a security. An ETF approval would likely lead to some demand from institutional investors and possible hype. 

We wrote “some” demand since evidence shows that institutional investors are only interested in Bitcoin. Spot Bitcoin ETFs have attracted over $38 billion in assets, while Ethereum ones only have less than $3 billion in inflows. 

Second, Hedera Hashgraph could start attracting more developers, a move that will transform it to a Solana-like network. More developers in its ecosystem would be important because its ecosystem is relatively small for a network with a market cap of over $10 billion. It only has 13 dApps in the DeFi industry, including Stader, SaucerSwap, and Bonzo Finance. 

Third, like other crypto coins, Hedera Hashgraph price may benefit from the friendly policies by the Donald Trump administration. Analysts expect that some of his policies will lead to more gains in the longer term.

Read more: HBAR price forecast: here’s why Hedera Hashgraph will hit $1

The post HBAR price prediction as Hedera forms a dangerous pattern appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
AAVE price prediction: these catalysts point to a 100% surge
next post
Gold prices snap three-day rally: what’s next?

Related Posts

Chipotle stock is expensive than NVIDIA and Microsoft:...

November 6, 2024

Duolingo stock price surged in 2024: is it...

December 31, 2024

TLT ETF forms death cross after Fed’s hawkish...

December 19, 2024

5 Top Weekly TSXV Stocks: TAG Oil Surges...

February 20, 2024

Nifty 50 index analysis ahead of Titan, Vedanta,...

November 4, 2024

AUD/USD forecast: what next for the Australian dollar...

April 6, 2025

BT Group share price hits key level: can...

March 19, 2025

Lloyds share price sits and waits: Oct. 23...

October 1, 2024

Carvana stock price is crumbling: is it safe...

March 7, 2025

Crypto price forecasts: ICP, Bitcoin, Ethereum

May 31, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,209)
    • Investing (2,537)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved