$HBAR Price Prediction Today December 18: Resistance Wall Becomes Barrier to Skyrocket – Bittime

$HBAR Price Prediction Today December 18 Resistance Wall Becomes Barrier to Skyrocket

Bittime - The $HBAR price prediction today, December 18, 2024, shows a potential surge of up to 50% despite challenges at key resistance levels. Check out the complete analysis!

Hedera (HBAR) price is now at a critical point that determines the direction of the next movement. After surging more than 200% in the past month, HBAR is now facing a wall of resistance that could become a barrier to its attempts to rocket higher.

However, there is optimism that HBAR can break through this barrier and continue its rally, especially if trading volume supports this move.

As one of the crypto assets that has managed to record extraordinary performance in recent times, HBAR (Hedera) has attracted the attention of many investors. With a market capitalization of around $10.89 billion (around IDR 175 trillion), HBAR is considered one of the best performing coins on the market.

However, even though the prospects are bright, several technical indicators warn that there is a possibility of a correction if the resistance wall in the price range of $0.29-$0.30 (around Rp. 4,660-Rp. 4,830) cannot be penetrated.

What's in the Way of $HBAR Price?

On technical analysis done by WorldOfCharts1, a "bullish pennant" pattern was formed which indicates that HBAR is on track for a breakout, or price penetration towards the target area between $0.45-$0.50 (around Rp. 7,250-Rp. 8,050).

However, there is one major challenge to face first: resistance in the $0.29-$0.30 price range. If HBAR manages to penetrate this level, a potential increase of 50% from the current price could be realized.

Target and Confirmation Zone

If the price manages to break through the upper limit of the pennant pattern, this analysis projects that the HBAR price could surge towards the $0.45-$0.50 range. This figure is obtained by adding the height of the flagpole of the pennant pattern which is currently recorded at around $0.16 (around Rp. 2,570).

An increase of 50% from the current price will open up great potential for HBAR to achieve higher prices.

However, keep in mind that a successful breakout must be supported by high trading volume. Without strong volume confirmation, the potential for breakout failure remains. In a worse scenario, if the price fails to break through this resistance, it is likely that HBAR will experience a correction and return to the support level around $0.26 (around Rp. 4,190).

HBAR's Bullish Momentum Weakens

Although HBAR recently recorded a price surge of 220.70% in the last 30 days, the bullish momentum is now starting to subside. Indicator Directional Movement Index (DMI) shows that although D+ (bullish line) is still higher than D-, a low ADX value indicates weak trend momentum.

The ADX that previously reached 65 on December 3—when HBAR price reached its highest level in six years—is now down to 14.2, indicating that the strong trend that pushed HBAR upwards is starting to lose steam.

Additionally, Ichimoku Cloud shows a bearish signal. HBAR price is currently below the key Ichimoku lines, with a thick cloud indicating heavy selling pressure above.

The formation of a bearish cross signal between the blue (Tenkan-sen) and red (Kijun-sen) lines further strengthens the view that the market is currently dominated by sellers, and HBAR may have difficulty recovering in the near future.

What to Look for Next?

With technical indicators indicating a decline in momentum, many traders will be closely monitoring HBAR price movements in the next few days. One of the key levels that must be maintained is support $0,275 (around Rp. 4,430).

If the price falls below this level, HBAR could slide to around $0.23 (around Rp. 3,710) or even lower to $0.17 (around Rp. 2,730).

However, if HBAR is able to stay above this support level and record another increase, there is an opportunity for this coin to challenge resistance at the $0.33 level (around Rp. 5,320).

Breaking this level will pave the way for HBAR to test the price of $0.40 (around Rp. 6,440), which will likely attract more buying interest from investors.

HBAR Price Prediction: Is There a Correction or a Surge?

Prediksi harga HBAR

Overall, even though there is a potential increase of up to 50%, HBAR's current price movement is highly dependent on its ability to break the resistance level of $0.29-$0.30 (around Rp. 466-Rp. 483). If this level fails to be penetrated, it is likely that the HBAR price will be pushed to lower support levels.

Traders and investors are advised to remain vigilant and monitor developments in trading volume and price movements in the next few hours and days.

If there is confirmation of large enough volume, HBAR can continue its rally and reach a higher target. However, if resistance remains, a short-term correction is possible.

FAQ About HBAR

Will HBAR reach $10?

DigitalCoinPrice experts predict HBAR will reach a maximum of $2.5 in 2030, reflecting a more conservative view. Overall, although HBAR may experience substantial growth, reaching the $10 price point seems unlikely based on current projections.

Is HBAR a good investment?

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

What is HBAR?

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

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Reference

BeIn Crypto, Hedera (HBAR) Price Faces Resistance as Uptrend Momentum Fades, accessed December 18, 2024.

Captain Altcoin, Hedera (HBAR) Price on the Verge of 50% Spike, One Key Resistance Left, accessed December 18, 2024.

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