hedera crypto price levels

The Hedera (HBAR) crypto price has now seen an overall correction of 89.9% since its all time high of $0.57 set in September 2021. Many investors are curious as to whether Hedera will see a recovery in the near future.

HBAR has demonstrated a bullish trajectory today as we break out to the upside of a descending channel pattern. According to the Binance crypto exchange, Hedera is currently up 9.5% on the daily time frame.

$0.067 is now a critical support level and should HBAR avoid negative price action, we should see bullish continuation up to around the $0.082 price level.

What can we expect to see from Hedera for the remainder of 2022?

Cryptoassets are a highly volatile unregulated investment product.

Hedera (HBAR) Crypto Price Prediction 2022

The recent price action of Hedera has been relatively bearish from a technical analysis point of view. Since Bitcoin lost the 200-week moving average on the 13th June, HBAR progressed on to put through lower lows.

Although, looking at the charts in greater depth we can actually see there was a hidden bullish divergence amongst the relative strength index. This could reflect that current trading prices are extremely appealing and investors have started to accumulate.

Hedera Crypto Bullish Divergence

HBAR Crypto Price Chart – Daily Time Frame 

If Hedera can gain enough momentum to break through the $0.082 resistance level I would start to feel confident. Should this happen, we may see a breakout from the following resistance of $0.084 to the previous swing high on the 7th of June 2022, at $0.097. This would result in a total increase of 27.4% present price levels.

Will Hedera (HBAR) go up in June 2022?

As claimed by Coinmarketcap HBAR crypto is currently rank #33 trading with a total market capital of $1.6 billion dollars. During the peak of the bull market Hedera had reached a total market capital of $6.7 billion dollars.

It is worth noting that we currently have 42% HBAR tokens in circulation. The maximum supply is capped at 50,000,000,000 tokens.

With the current HBAR price levels now being reminiscent of January 2021, it is quite difficult not to feel bullish and begin accumulating.

Though, I would still remain risk averse as technical analysis and speculation cannot predict the future alone. If Bitcoin decides to plummet through $20,000 once again there will be more catastrophe for altcoins.

Taking this into consideration I have set myself another buy zone between $0.027 and $0.048 for more accumulation. Altcoins usually take longer to recover than more stable blue-chip projects. Having said this, I do believe current prices for Hedera lean towards fair value which is great for new investors to potentially get into.

What is Hedera (HBAR) Crypto?

Hedera Hashgraph is one of the most used layer 1 solutions that allows individuals and businesses to create extremely robust decentralized applications (DApps). Its native token HBAR is sustainable, cost effective, carbon negative and an extremely fast blockchain – surpassing its competitors.

The Hedera protocol was designed to be a more fair and more efficient system that eliminates many of the limitations that older blockchain platforms accrued. For example, extremely high gas fees and network delays.

Hedera Crypto Transaction Speed

Hedera Transaction Speeds Vs 1st & 2nd Generations

HBAR has a hybrid of different functions within the Hedera ecosystem. Firstly, HBAR is the fuel that supplies power to Hedera utilities (such as smart contracts and regular transactions). Secondly, HBAR is used to help secure the overall network. This is because HBAR users are able to stake their tokens which allows them to assist with maintaining the authenticity of the platform.

Personally, I believe that HBAR is an excellent and undervalued layer-one solution with huge long term growth potential. Let’s see what the future unfolds.

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Cryptoassets are a highly volatile unregulated investment product.

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