Latest Hedera (HBAR) Coin Price Prediction, Can It Rise to What Level?

Bittime - Hedera Hashgraph (HBAR) is attracting the attention of many investors after recording a significant price spike so far this year. 

After going through a long period of correction, HBAR managed to penetrate the price level of around $0.041 (around Rp. 654), and has now advanced to its annual high price of $0.26 (around Rp. 4,134). 

This rise signals strong bullish momentum, but the big question that often arises is, "Can HBAR rise further?" This article will review the latest developments in the HBAR price, conduct in-depth analysis, and provide predictions regarding future price movements.

What is Hedera (HBAR)?

Hedera (HBAR) is one of the most widely used decentralized public networks, with a focus on fast, efficient, and secure transactions. Different from traditional blockchain, Hedera adopts Hashgraph technology which prioritizes decentralized consensus but with high speed. 

This technology allows Hedera to overcome some of the weaknesses that exist in blockchain systems such as scalability problems and low transaction speeds.

Since its launch in 2019, Hedera Hashgraph has become the top choice for many developers who want to create decentralized applications (DApps) with better performance and lower costs. 

Hedera has two main roles for its users: first, HBAR serves as fuel for transactions on the network, such as file storage and smart contracts; secondly, HBAR is used to maintain network security by allowing users to stake.

Read also: Why is the HBAR Coin Price Rising? This is the Cause!

Current Price of Hedera Coin (HBAR)

Today's HBAR price shows quite impressive performance. Based on the latest data, the HBAR price is at the level of IDR 5,400 with daily trading volume reaching IDR 113 trillion. 

In the last 24 hours, HBAR has increased by 38.15%, which shows that market enthusiasm for this coin is increasing.

Currently, Hedera (HBAR) is ranked 17th on CoinMarketCap, with a market capitalization of around IDR 208 trillion. With a total circulating supply of 38.2 billion HBAR, and a maximum supply of 50 billion HBAR, the potential for an increase in the price of this coin is quite large considering the growing demand.

Hedera Price Analysis (HBAR)

Source: CCN

From technical analysis, we can see that HBAR has passed a long correction phase and is now entering a quite significant upward phase. 

Using Elliott Wave analysis, HBAR appears to have completed wave (3) of the larger five-wave structure, meaning bullish momentum is still very strong. The price breakout to the $0.26 level (around Rp. 4,134) indicates that HBAR is in a broader upward phase.

However, the Relative Strength Index (RSI) indicator shows that HBAR is currently in overbought conditions, which means we could see a slight price consolidation or correction in the short term. 

This is not a bad thing, but rather an opportunity for investors to buy at lower prices before the next bull wave.

Read also: Hedera Coin Price Prediction (HBAR), Here's the Analysis!

Hedera Price Prediction (HBAR)

Source: CCN

Looking at the ongoing HBAR price pattern, we can project several important price levels to pay attention to:

Resistance Point: 

HBAR has now reached a price of $0.26 (around IDR 4,134), which is the main resistance point in wave (3). If HBAR manages to break this level, the next target is $0.31 (around IDR 4,929), which corresponds to the projected Fibonacci extension of 2.0.

Support Point: 

On the other hand, there are several support levels that need to be watched to keep the bullish trend maintained. The nearest support is at $0.206 (around Rp. 3,278), which is the critical zone to keep HBAR on the bullish path.

Based on Fibonacci analysis, HBAR has the potential to reach a price of $0.31 (around Rp. 4,929) on wave (5), but will most likely experience consolidation or a mild correction before reaching that level.

Read also: Hedera Price Prediction (HBAR) 2024, 2025 - 2030, See the Analysis

Conclusion

Hedera (HBAR) shows great potential with a price structure that currently still shows a strong bullish trend. Although there are indications that HBAR price may undergo consolidation in the near term, the long-term trend remains optimistic as long as HBAR manages to maintain a strong support level. 

For interested investors, maintaining positions above $0.206 (around Rp. 3,200) will be critical to maintaining positive momentum. However, if the price manages to penetrate $0.26 (around Rp. 4,100), HBAR could continue its increase towards the level of $0.31 (around Rp. 4,900) in the near future.

In conclusion, although there is a possibility of a price correction in the near term, the potential for long-term price increases for HBAR remains wide open, especially with the growing adoption of Hedera technology.

FAQ About HBAR

What is HBAR?

HBAR is a general purpose crypto asset and utility token of the Hedera network. HBAR is used on the network to pay transaction fees.

Is HBAR coin a good investment?

Hedera Hashgraph is a good investment. It is a leading player in the cryptocurrency space, which is growing very fast; hence many market enthusiasts are optimistic about the future price of this coin. Investors are advised to do their own research before investing in tokens.

Will HBAR reach $100?

According to HBAR price predictions from various experts, it is unlikely that Hedera Hashgraph will reach $100.

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Reference: 

CCN, CCN article, accessed December 3, 2024.

coinmarketcap, HBAR price chart, accessed December 3, 2024.

Author: Y