The Hedera Hashgraph Price Prediction 2021 – Will HBAR Hit $0.5 Soon?

The Hedera Hashgraph Price Prediction 2021 - Will HBAR Hit $0.5 Soon?
  • Bullish HBAR price prediction ranges from $0.20 to $0.40.
  • HBAR price might also reach $0.50 soon.
  • HBAR bearish market price prediction for 2021 is $0.08.

In Hedera Hashgraph (HBAR) price prediction 2021, we use statistics, price patterns, RSI, and much other information about HBAR to analyze the future movement of the cryptocurrency. 

Hedera Hashgraph is a public network that allows individuals and businesses to create powerful decentralized applications (DApps). . HBAR is the native, energy-efficient cryptocurrency of the Hedera public network. The platform is owned by a council of global innovators including Avery Dennison, Wipro, Zain Group and so on

According to CoinGecko, the Hedera Hashgraph (HBAR) price is trading at $0.1839 with a 24-hour trading volume of $193,447,520, at the time of writing. However, HBAR has decreased by 1.83% in the last 24 hours.

Moreover, HBAR has a circulating supply of 8.95B HBAR. Currently, HBAR trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, FTX, and Upbit.

Hedera Hashgraph (HBAR) Price Prediction 2021

Hedera Hashgraph (HBAR) holds the 54th position on CoinGecko right now. HBAR price prediction 2021 explained below with a daily time frame.

HBAR/USDT Price Chart Weekly Time Frame (Source: TradingView)

A flag pattern is a type of chart continuation pattern that shows candlesticks contained in a small parallelogram. It is an area of accumulation which shows a counter-trend move that follows after a sharp price movement. A flag pattern allows traders to enter the market in the middle of the trend.

In the daily time frame chart, it is possible for the HBAR to reach $0.41 if the bull trend continues. Or else, if the price of the HBAR breaks the resistance level of $0.20, it will fall to the next support level at $0.12. So, the trend of the HBAR is based on the breakout.

Hedera Hashgraph (HBAR) Support and Resistance Level

The below chart shows the support and resistance level of HBAR.

HBAR/USDT Support and Resistance Level (Source: TradingView)

From the above weekly time frames, it is clear the following are the resistance and support levels of HBAR.

  • Resistance Level 1 – $0.40
  • Support Level 1 – $0.16
  • Support Level 2 – $0.08
  • Support Level 3 – $0.05

The charts show that HBAR has performed a bullish trend over the past month. If this trend continues, HBAR might run along with the bulls overtaking its resistance level at $0.40.

Conversely, if the investors turn against the crypto, the price of HBAR might plummet to almost $0.08, a bearish signal.

Hedera Hashgraph (HBAR) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of HBAR. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line. 

The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators. 

HBAR/USDT ADX(Source: TradingView)

The above chart shows the ADX of HBAR stays above the range of 17, so it indicates a weak trend.

Conclusion

HBAR is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term HBAR price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.448 this year. However, this will only happen if it breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the HBAR ecosystem, it could experience a great future ahead in 2021. It may reach $0.40 soon and it might even reach high heights, however reaching $0.5, if investors have planned that HBAR is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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