Hbar Price Prediction: The Bullish Trend Continues as the Price Surges Toward $0.2

In the past 24 hours, the price of Hbar has been facing rising bullish pressure as it surges toward $0.2. Hbar recorded a gain of 3%,

In a significant shift in market dynamics, Hedera (HBAR) has encountered substantial bullish pressure in the past 24 hours as it approaches the critical $0.2 level.

As sellers valiantly strive to keep the price below Fibonacci channels, it seems that buyers are finally making a stand.

Data from Coinglass reveals that during this volatile period, a total of $184,000 in Hedera transactions were executed. Of this sum, buyers liquidated $68,000 in transactions as their hopes for price increases dwindled, while sellers faced a collective loss of $116,000.

However, amidst these turbulent market conditions, Hedera's open interest experienced a surge of 5% in the last 24 hours, reaching a total of $206.5 million. Open interest is an indicator of unresolved trading contracts, and its increase signals heightened trading activity.

Furthermore, market indicators suggest that a correction in the specified direction might be forthcoming. The positive funding rate of 0.009% for HBAR signifies a greater presence of buyers, potentially pushing the market upward.

HBAR is currently facing strong bullish pressure as it aims for a hold above $0.2. This mark has proven to be a crucial resistance level, with bears preventing any upward movement beyond this point.

At the time of writing, HBAR is being traded at $0.2008, having surged by more than 4.1% in the last 24 hours. The HBAR/USDT pair is struggling to overcome the immediate resistance at $0.2, a critical point where short-term holders may choose to offload their holdings. Despite these challenges, buyers are managing to keep the price above that level.

If the price manages to stay above the $0.2 level, there could be a potential rally back to the $0.21 mark. Breaking above this resistance could pave the way for the price to climb past $0.25.

On the other hand, if the price holds below the EMA20 line on the 1-hour chart, it is likely that sellers will push it down further towards $0.18. A continued decline from this level could strengthen the sellers' grip, potentially driving the price down to $0.17.

According to BlockchainReporter, Hbar price might aim for a hold above $0.2. If the price holds above $0.2, we might see a trade around $0.21. On the down side, $0.18 is the range.

According to Coincodex's latest Hedera Hashgraph price prediction, the cryptocurrency is expected to decrease by approximately 9.31%, falling to $0.178602 by April 24, 2025. Coincodex's technical indicators currently suggest bearish sentiment, and the Fear & Greed Index stands at 46, indicating "Fear."

Over the past 30 days, Hedera Hashgraph experienced 14 out of 30 (47%) green days, with price volatility around 10.89%. Based on this analysis, Coincodex considers it an unfavorable time to buy Hedera Hashgraph.