- Hedera (HBAR) is experiencing a downtrend, with current price action suggesting further bearish momentum.
- Technical indicators and Elliott Wave analysis point toward continued consolidation unless resistance is broken.
- Long-term predictions remain cautiously optimistic, with potential price targets ranging widely across various forecasts.
Hedera (HBAR) is currently trading at $0.1632, a loss of 6.51% within the last 24 hours. However, despite this decline, trading volume increased by 20.83% to $224.95 million, thus showing that there is still plenty of market activity even though prices are weak.
In the past week, HBAR has dropped 14.63% following the overall cryptocurrency market, which is under the influence of macroeconomic factors and capital outflows from institutional products, including BlackRock’s Bitcoin ETF.
Crypto analyst Morecryptoonline presents a technical analysis of HBAR using the Elliott Wave principle. According to the analyst, the cryptocurrency is currently in a corrective wave (c), which depicts the downward leg after earlier waves (a) and (b). The resistance area has been pointed out by the analyst between $0.173 and $0.179 on the Binance HBAR/USDT daily chart. Price action has even moved sideways, suggesting consolidation and indecision after quite a drop.
RSI below 50 signals weak bullish momentum
The chart analysis shows that the price action is moving around the 0.618 Fibonacci retracement level, which is considered by Elliott Wave theory to be a significant support point. This technical level is often regarded as a pivot zone; hence, a drop below this would validate the continuation of selling pressure, whereas a bounce within this level would indicate a short-term recovery. However, the RSI and MACD indicators do not support the reversal to bullish conditions at this point.
The RSI is currently at 47.48, thus it is positioned slightly below the neutral level of 50. This indicates bearish pressure but does not suggest that the asset is in an oversold condition. The MACD histogram continues to lie in negative territory, with the signal line still above the MACD line, which represents a typical bearish scenario. All these indicators point to a downward momentum unless there is a significant breakout above resistance.
HBAR price predictions for 2025
Predictions for HBAR in 2025 are highly divergent, indicating both uncertainty and changing market perceptions. According to DigitalCoinPrice, HBAR may reach a high of $0.38, and the bullish scenario anticipates a move towards its former all-time high of $0.57. Some analysts believe that continued interest from investors could push the price to the range of $0.33-$0.36 by the end of this year.
In contrast, Changelly’s prediction is much more conservative. According to its analysis, HBAR will trade in the range of $0.2169 and $0.2554 in 2025, with the mean value falling approximately at $0.2240. For May 2025, Changelly predicts a possible dip to $0.1725, which nearly coincides with current support levels.
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