Bittime - After Hedera (HBAR) experienced a market capitalization drop to $10.11 billion, there are optimistic signals that HBAR can return to approaching its ATH at $14 billion.
Read this article to find out today's HBAR price prediction, from technical analysis to market sentiment.
HBAR Price Prediction Today: HBAR Market Cap
At its peak on December 3, Hedera’s market cap reached $14.20 billion, the highest since the Mainnet launch in September 2019.
With a circulating supply of 13.22 billion out of a total of 50 billion, much of this increase was driven by the surge in the price of the HBAR token.
However, the HBAR price fell from $0.38 to $0.26, indicating a pause in the bullish momentum.
However, in the last 24 hours, HBAR has shown a recovery, indicating renewed buying interest. If this trend continues, today's HBAR price prediction is that HBAR's market cap has the potential to return to the $14 billion level.
Also Read: Hedera (HBAR) Price Analysis in Early December
HBAR Price Prediction Today: HBAR Social Domination
Meanwhile, HBAR’s social dominance increased by 1.14%. Social dominance is a metric that tracks the level of discussion around a cryptocurrency compared to other assets in the top 100.
An increase in social dominance is often a positive signal because it indicates increased attention to an asset.
If HBAR's social dominance continues to rise, today's HBAR price prediction is that bullish sentiment will strengthen and push prices higher.
Also Read: HBAR Price Prediction End of 2024: Can it Reach $0.5?
HBAR Price Prediction Today: HBAR Bull Flag Pattern
From a technical perspective, there is a bull flag pattern on the HBAR/USD chart. This pattern is a strong indication of an upcoming uptrend.
A bull flag is formed from a sharp rise (flagpole) followed by a period of consolidation (flag), usually moving slightly down or flat.
When this pattern is completed, it is usually followed by a sharp price increase. If HBAR manages to continue this pattern, the HBAR price prediction today is that the price of this token can rise to $0.45, but if selling pressure increases, there is a risk of the price falling to the level of $0.17.
Also Read: Hedera Hashgraph (HBAR) Recap Q1-Q4 2024
HBAR Price Prediction Today
With various supporting factors such as increasing social dominance, strong technical patterns, and new buying interest, today's HBAR price prediction tends to be positive.
If the bullish momentum continues, HBAR has the potential to reach $0.45 in the near term. Conversely, if selling pressure dominates, a drop to $0.17 should also be watched out for.
Also Read: Hedera (HBAR) Price Prediction 2025 and Long Term
Hedera FAQ (HBAR)
What is Hedera (HBAR)?
Hedera is a platform that uses a unique "hashgraph" technology to power DApps. Hedera's native token, HBAR, is used to pay for transactions on the network and maintain security through a staking mechanism.
What are the advantages of Hedera (HBAR) compared to other blockchains?
Hedera offers high transaction speeds, low fees, and much better energy efficiency than other blockchains. Hedera also has strong governance through a global member council that includes major companies such as Google and IBM.
How to Buy Hedera (HBAR)?
Hedera (HBAR) can be purchased through various exchange platforms such as Bittime, simply by visiting the trade page on the official Bittime website.
How to Buy Crypto on Bittime
Want to trade and buy Bitcoin and invest in crypto easily? Bittime is ready to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures that every transaction is safe and fast.
Start by registering and verifying your identity, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!
Check BTC to IDR , ETH to IDR , SOL to IDR and other crypto assets rates to find out today's crypto market trends in real-time on Bittime.
Also, visit Bittime Blog for interesting updates and educational information about the crypto world. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the crypto world.
Reference
Ben Jochem, Hedera (HBAR) Eyes $14 Billion Market Cap Comeback After Brief Decline , accessed December 28, 2024.
Author: IPR
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