HBAR Price Prediction: Hedera Fails to Find a Support

Our HBAR price prediction looks quite bearish as the price keeps making lower lows. The bear trend has intensified since the price has broken below $0.20 region, and bulls are nowhere to be seen. Most altcoins hit their 52-week lows last week as Bitcoin price dipped to the $24,500 level. Hedera Hashgraph price also plummeted to $0.073 during this bloodbath. Nevertheless, the HBAR coin price is eying a recovery and now trading at $0.105.

Hedera Hashgraph is a smart contract platform governed by global innovators like Boeing, Google, IBM, LG Electronics, Dennison etc. It allows developers to build and deploy fair applications with near real-time consensus.

According to recent Hedera Hashgraph news, the devs have announced the creation of HIP-482: JSON-RPC Relay. This HBAR improvement proposal would enable the support of wallets, libraries, and various developer tools.

As per DeFi Llama, the current TVL of Hedera Hashgraph is $50.5 million. The same figure was $69 million just three weeks ago. This sudden decrease in TVL s due to the abrupt decrease in HBAR price. Stader is the most prominent dapp on the network, which allows on-chain staking.

HBAR Price Prediction

Technical analysis of the Hedera Hashgraph price chart shows that the price has failed to find solid support. The ongoing slump in Bitcoin price has further intensified this bearish move, and the bears appear to be in full control. Any bullish HBAR price prediction would be off the table until the bulls reclaim $0.20 level.

Despite last week’s bloodbath in the crypto markets, many analysts fear that the worst is yet to come. Therefore, another crash in Bitcoin price might push HBAR crypto to new lows. In such an extremely bearish scenario, the next significant support lies around $0.03. This would be a nightmare for even the long-term holders as it would be equivalent to a 70% downwards move from current levels.

HBAR USD Daily Chart

HBAR Price Chart (1D)