Hedera Hashgraph Price Prediction: A potential bullrun with caution


  • Hedera Hashgraph price witnessed a 125% rally in January.
  • HBAR may rally towards $0.10 liquidity zone based on the strong influx of volume.
  • Invalidation of the bullish thesis could occur from a breach below the recent swing low at $0.060

Hedera Hashgraph price shows potential to continue its uptrend. The consolidation phase could be viewed as a buying opportunity in hindsight. However, the risk to the downside should be considered.

Hedera Hashgraphprice still in an uptrend

Hedera Hashgraph price currently auctions at $0.069 as the scalable smart contract token is going through a phase of consolidation following its’ 125% rally last month.  At the time of writing, the cryptocurrency trades beneath the hundred-day simple moving average and above the 50-day simple moving average. The squeeze effect on smaller time frames is likely to resolve in a powerful move, either bullish or bearish.

The volume indicator suggests that the Hedera Hashgraph price is in a strong uptrend, as the current sell-off shows a substantially less number of transactions than the largest green candlestick in the trend, which had a total of $8.54 billion in transactions between January 17th to January 19th. The volume indicators suggest that bulls in the market are still holding on to their positions in anticipation of another move north.

If the uptrend continues, the bulls could challenge untagged liquidity levels from the 2021 market decline lie near the $0.10 zone. A breach of this level would result in a 46% increase in market value from HBAR’s price today.

tm/hbar/2/6/22

HBAR/USDT 1-Day Chart

On the contrary, A breach of the 0.060 swing low could invalidate the optimistic outlook and prompt further decline. The 50-day simple moving average would be the first bearish Target lying at 0.050. HBAR would decline by 20% if the bears were to conquer the trend.

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

MANTA suffers 4% pullback after unlocking tokens worth $40 million

MANTA suffers 4% pullback after unlocking tokens worth $40 million

Manta Network (MANTA) unlocked over 8% of its circulating supply on Thursday. The unlocked tokens were airdropped and distributed in public sale, according to data from Tokenunlocks. 

More Cryptocurrencies News

XRP struggles to recover as lingering Ripple lawsuit could reach Supreme Court, former SEC litigator says

XRP struggles to recover as lingering Ripple lawsuit could reach Supreme Court, former SEC litigator says

The SEC vs. Ripple potential showdown at the Supreme Court is likely, says former SEC litigator Ladan Stewart. XRP Ledger calls developers, businesses and investors to build on the blockchain, extending Apex 2024 registration until April 30. 

More Ripple News

Bitcoin Layer 2 Merlin chain TVL climbs 20%, defying broad market correction

Bitcoin Layer 2 Merlin chain TVL climbs 20%, defying broad market correction

Merlin chain’s TVL added 20% this week, and crossed $800 million on Thursday. Bitcoin Layer 2 assets noted double-digit losses in the past week. Stacks, Elastos, SatoshiVM, BVM are hit by a correction as Bitcoin hovers around $61,000. 

More Bitcoin News

If Bitcoin restarts bull run, these altcoins are likely to explode Premium

If Bitcoin restarts bull run, these altcoins are likely to explode

If Bitcoin’s consolidation ends and the bull run resumes, altcoins are likely going to trigger a massive rally. Last cycle’s hot tokens like SOL, AVAX, WIF, ONDO, etc., could see renewed enthusiasm. 

More Cryptocurrencies News

Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established. 

Read full analysis

BTC

ETH

XRP