Hedera Hashgraph (HBAR) price predictions reveal an obvious path to threaten decades-long dominance in the crypto market. Even if blockchain somewhat meets its bullish targets over the next decade, the future belongs to Hashgraph.
Hedera Hashgraph (HBAR) can be credited for the ongoing transformation of the crypto landscape into a playground for big business. At the time of writing this piece, HBAR enjoyed a 24-hour trading volume of more than $84 million.
According to trading data on CoinMarketCap, the HBAR price is now around $0.23, ranking #54, and a fully diluted market cap of about $12 billion. The circulating supply is just over nine billion out of the total supply of 50 billion.
Let’s delve into how Hedera Hashgraph (HBAR) is able to beat analyst predictions, whether that can continue in the future, and if the cryptocurrency is currently a solid buy.
HBAR Price Prediction: Technical Analysis
HBAR prices have been trading reasonably well. From June to late July and now August, HBAR has been stuck with an upward trend. Busting through its 200-day moving average, the token has been able to find some support, and from there, consolidate an effort to reach new highs. From downtrend to uptrend, Hedera Hashgraph price prediction puts its capital to work.
With that said, it hit some resistance as it looked to burst through the next significant resistance level at $0.40 to $0.46. What is sustaining the upward trend continues to play a role in the price action today; for that reason, traders should keep an eye on both pivotal resistance levels at $0.249 and $0.257.
In the chart above, the positive DMI is clearly dominant. The false crossover of the average DMI at the start of 2021 is encouraging; the uptrend resulting is unlike any other in its history. The consolidated phase since May, which can also be called the ‘calm before the storm’ shows HBAR price predictions could be heading for a breakout soon.
The price is choppy around this time, flanked by the weak DMI leading up to mid-July, but the positive DMI rises sharply towards August, and the uptrend follows. After that, the trading pay falls slightly, indicating bearish pressure in strong, forming lower highs, and in the absence of stronger bullish sentiments, the average DMI continues the downtrend.
The distribution mode since May with successive lower momentum on each rally over the last three to four months is worrying. The influence of Bitcoin price prediction is evident. The DMI is currently tightening around HBAR’s recent movements. Perhaps Hedera Hashgraph (HBAR) could be signaling a large move in price.
The long-term and short-term price action trends are both positive: this looks good. Compared to the 2020 – 2021 performance of all cryptos, notice that HBAR is outperforming more than two-thirds of the market. What’s more, the gains produced by HBAR are well-spread over this period. Hedera Hashgraph Price predictions signal a willingness to cede bitcoin’s influence.
Hedera Hashgraph Price Prediction: Market Opinions
WalletInvestor
Back in March, HBAR price prediction lowered expectations based on the terrain at the time. Today, WalletInvestor provides a bullish perspective for HBAR. Looking at the future of HBAR, a glimpse of bullishness is clearly building upon the price charts. The technical analysis justifies a price project of $0.44 from $0.23 in one year or less.
Many crypto traders already have this HBAR price prediction on their list of cryptos to buy this August. If the forecast is anything to go by, investors look set to ride a wave of wealth creation to 2022 and beyond. Should HBAR close August at a solid $0.277 forecast; the potential to make a pivotal push to $0.44 will be clear. It can bust through strong price levels and hold support with an upward-facing average DMI.
Read full article: HBAR Price Prediction 2021 – 2022: Market Analysis and Opinions
