40% Increase to 2024 High Looks Doubtful for HBAR: Here’s Why

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As a researcher delving into the crypto sphere, I’ve noticed that Hedera (HBAR) hasn’t been gaining traction recently, which seems to mirror the market’s ambiguity in these uncertain times. This vagueness has made it challenging for investors to make decisive moves regarding this altcoin’s future prospects.

As an analyst, I’ve noticed that the price of HBAR has been holding steady within a particular range, which only adds to the uncertainty about its near-future trajectory.

HBAR Investors Are Not Sure

Currently, investor sentiment towards Hedera seems relatively low, as suggested by the Chaikin Money Flow (CMF). Over the last fortnight, this indicator has consistently stayed below the zero line, suggesting that more money is being withdrawn from the market than invested. This prolonged trend points to a persistent uncertainty among investors, who seem reluctant to pour substantial funds into Hedera due to its underperformance so far.

The persistent negative Crypto Momentum Factor (CMF) indicates a deeper worry about the altcoin’s struggle to build bullish energy. This hesitation seen among market players has kept HBAR stuck within a period of sideways movement, hindering any significant advance that could boost investor trust in the short term.

The growing strength of the bear market is evident in HBAR’s overall trend. Over the past month, the Relative Strength Index (RSI), a significant technical tool, has been gradually decreasing. This consistent drop indicates that sellers are gaining more power, exacerbating the altcoin’s already weakened status.

The fact that the RSI (Relative Strength Index) is moving below the 50.0 neutral line is quite worrying, as it suggests a strong bearish influence. If this trend continues, Hedera might encounter further difficulties, possibly amplifying the apprehension surrounding its price fluctuations.

HBAR Price Prediction: Breaking Out of Consolidation

For about a month now, Hedera’s value has been hovering between $0.33 and $0.25, suggesting a period of little change or advancement. This prolonged stability has led to increasing apprehension among investors. Due to the minimal price fluctuations, it’s challenging to foresee what direction this altcoin might take next.

Should present trends continue, there’s a possibility that HBAR might not be able to uphold its $0.25 support. If it fails to do so, we may witness a drop towards $0.18. This decline could reinforce the bearish trend that has been noticeable in recent times.

If there’s a change in investor attitudes towards the market, it might lead to a more positive forecast. If the overall crypto market starts to rise, HBAR could potentially exceed its current resistance at $0.33. In this situation, HBAR could strive for $0.39, which represents a 40% increase. This would bring HBAR back to its 2024 peak and challenge the bearish perspective.

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2025-01-11 11:35