Hedera Hashgraph (HBAR) Price Prediction 2023 — Will HBAR Hit $0.5 Soon?
- Bullish HBAR price prediction for 2023 is $0.0804 to $0.1114.
- Hedera Hashgraph (HBAR) price might reach $0.5 soon.
- Bearish HBAR price prediction for 2023 is $0.0360.
In Hedera Hashgraph (HBAR) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about HBAR to analyze the future movement of the cryptocurrency.
Hedera Hashgraph (HBAR) Current Market Status
| Current Price | $0.06328 |
| 24 – Hour Trading Volume | $41,656,274 |
| 24 – Hour Price Change | 0.09% down |
| Circulating Supply | 31,045,214,139 |
| All – Time High | $0.5701 (On September 16, 2021) |
What is Hedera Hashgraph (HBAR) ?
Hedera Hashgraph (HBAR) is the native utility token of the Hedera network. Hedera is a decentralized hashgraph distributed ledger technology. HBAR was launched during its ICO in 2018. Hedera network’s mainnet went live in 2019. Hedera network serves majorly as a distributed file service.
Rather than being built on any blockchain, the Hedera network is built on the hashgraph model that is secured by the proof-of-stake (PoS) consensus mechanism. It uses a patented algorithm that makes it a non-forkable network. The transactions on Hedera are faster and occur at low costs. The hashgraph distributed ledger is secure and immutable as Hedera deploys asynchronous byzantine fault tolerance (aBFT).
Hedera Hashgraph (HBAR) Price Prediction 2023
Hedera Hashgraph (HBAR) ranks 33rd on CoinMarketCap in terms of its market capitalization. The overview of the Hedera Hashgraph price prediction for 2023 is explained below with a daily time frame.
HBAR/USDT Descending Triangle Pattern (Source: TradingView)
In the above chart, Hedera Hashgraph (HBAR) laid out a descending triangle pattern. The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern.
As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.
Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.
At the time of analysis, the price of Hedera Hashgraph (HBAR) was recorded $0.06328. If the pattern trend continues, then the price of HBAR might reach the resistance levels of $0.0706, $0.0990 and $0.1301. If the trend reverses, then the price of HBAR may fall to the support of $0.0534.
Hedera Hashgraph (HBAR) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Hedera Hashgraph (HBAR) in 2023.
HBAR/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as the resistance and support levels of Hedera Hashgraph (HBAR) for 2023.
| Resistance Level 1 | $0.0804 |
| Resistance Level 2 | $0.1114 |
| Support Level 1 | $0.0563 |
| Support Level 2 | $0.0360 |
As per the above analysis, if Hedera Hashgraph ’s (HBAR) bulls take the lead, then it might hit and break through its resistance level of $1.5848.
Conversely, if Hedera Hashgraph ’s (HBAR) bears dominate the trend, the price of HBAR might plunge to $0.6852.
Hedera Hashgraph (HBAR) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Hedera Hashgraph (HBAR) are shown in the chart below.
HBAR/USDT RVOL, MA, RSI (Source: TradingView)
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment.
At the time of analysis, the RVOL of Hedera Hashgraph (HBAR) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the HBAR price lies below 50 MA (short-term), indicating its downtrend. Hence, HBAR is in a bearish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.
At the time of analysis, the RSI of HBAR is at 44.98. Therefore, this indicates HBAR is nearly in an oversold state. Also, this confirms that HBAR sends out a buy signal.
Hedera Hashgraph (HBAR) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Hedera Hashgraph (HBAR) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
HBAR/USDT ADX, RVI (Source: TradingView)
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of HBAR lies in the range of 14.4594 pointing out a weak trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of HBAR lies below 50, indicating low volatility.
Comparison of HBAR with BTC, ETH
Let us now compare the price movements of Hedera Hashgraph (HBAR) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs HBAR Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of HBAR is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of HBAR also increases or decreases respectively.
Hedera Hashgraph (HBAR) Price Prediction 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Hedera Hashgraph (HBAR) between 2024 and 2030.
Hedera Hashgraph (HBAR) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then Hedera Hashgraph (HBAR) might successfully test and surpass its resistance levels to hit $1.3 by 2024.
Hedera Hashgraph (HBAR) Price Prediction 2025
The significant upgrades in the Hedera Hashgraph ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Hedera Hashgraph (HBAR) price to reach $1.5 by 2025.
Hedera Hashgraph (HBAR) Price Prediction 2026
If Hedera Hashgraph (HBAR) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $1.9.
Hedera Hashgraph (HBAR) Price Prediction 2027
If Hedera Hashgraph (HBAR) sustains major resistance levels and stands as a better investment option in the market, then HBAR would rally to hit $2.5.
Hedera Hashgraph (HBAR) Price Prediction 2028
If Hedera Hashgraph (HBAR) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then HBAR would hit $2.9 by 2028.
Hedera Hashgraph (HBAR) Price Prediction 2029
If investors flock in and continue to place their bets on Hedera Hashgraph (HBAR), then the crypto would witness major spikes. Hence, HBAR might hit $3.2 by 2029.
Hedera Hashgraph (HBAR) Price Prediction 2030
By 2030, the HBAR price might rally to $3.5 if the trend momentum aligns in favor of Hedera Hashgraph . Furthermore, HBAR would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.
Conclusion
If Hedera Hashgraph (HBAR) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Hedera Hashgraph (HBAR) price prediction for 2023 is $0.1114. Comparatively, the bearish Hedera Hashgraph (HBAR) price prediction for 2023 is $0.0360.
If there is a positive elevation in the market momentum and investors’ sentiment, then Hedera Hashgraph (HBAR) might hit $0.5. Furthermore, with future upgrades and advancements in the Hedera Hashgraph ecosystem, HBAR might surpass its current all-time high (ATH) of $0.5701 and mark its new ATH.
FAQ
1. What is Hedera Hashgraph (HBAR)?
Hedera Hashgraph (HBAR) is the native utility token of the Hedera network. Hedera is a decentralized hashgraph distributed ledger technology.
2. Where can you buy Hedera Hashgraph (HBAR)?
Traders can trade Hedera Hashgraph (HBAR) on the following cryptocurrency exchanges such as Binance, Digifinex, FMFW.io, Huobi global, Crypto.com, Gate.io, and OKX.
3. Will Hedera Hashgraph (HBAR) record a new ATH soon?
With the ongoing developments and upgrades within the Hedera Hashgraph platform, Hedera Hashgraph (HBAR) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Hedera Hashgraph (HBAR)?
Hedera Hashgraph (HBAR) hit its current all-time high (ATH) of $0.5701 on September 16, 2021.
5. What is the lowest price of Hedera Hashgraph (HBAR)?
According to CoinMarketCap, HBAR hit its all-time low (ATL) of $0.01001 on Jan 02, 2020.
6. Will Hedera Hashgraph (HBAR) hit $0.5?
If Hedera Hashgraph (HBAR) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $0.5 soon.
7. What will be the Hedera Hashgraph (HBAR) price by 2024?
Hedera Hashgraph (HBAR) price might reach $1.3 by 2024.
8. What will be the Hedera Hashgraph (HBAR) price by 2025?
Hedera Hashgraph (HBAR) price might reach $1.5 by 2025.
9. What will be the Hedera Hashgraph (HBAR) price by 2026?
Hedera Hashgraph (HBAR) price might reach $1.9 by 2026.
10. What will be the Hedera Hashgraph (HBAR) price by 2027?
Hedera Hashgraph (HBAR) price might reach $2.5 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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