Key Takeaways
Hedera (HBAR) could be the latest crypto to get an exchange-traded fund after investment company Canary Capital filed for an HBAR ETF on November 12.
While it is unclear whether the United States Securities and Exchange Commission (SEC) will approve the application, the mere fact that someone has made it suggests HBAR could be a crypto to watch over the coming months.
Earlier this year, the platform. welcomed new members to its board, with Cadbury’s owner Mondelez joining Hyundai on Hedera’s Stewardship Council.
In July, it announced a partnership with accounting firm Deloitte .
On Nov. 14, 2024, Hedera was worth about $0.061.
Let’s examine our Hedera price predictions, made on Nov. 14, 2024. We will also examine the Hedera price history and discuss what Hedera is and does.
Let’s examine some of the Hedera price predictions CCN made on Nov. 14, 2024. It is crucial to remember that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.
Minimum HBAR Price Prediction | Average HBAR Price Prediction | Maximum HBAR Price Prediction | |
---|---|---|---|
2024 | $0.05 | $0.10 | $0.15 |
2025 | $0.08 | $0.20 | $0.30 |
2030 | $0.25 | $0.50 | $0.80 |
In 2024, HBAR is likely to recover further from its recent lows, especially if the new bullish wave develops as expected. However, given its corrective patterns, HBAR may face resistance around $0.15, with support near $0.05 if broader market conditions weaken.
By 2025, HBAR may experience a stronger uptrend as market conditions and adoption of Hedera’s ecosystem improve, with an average price target of $0.20. If bullish momentum continues, the price could reach as high as $0.30, while potential retracements may bring it down to $0.08.
2030 HBAR could see significant growth as Hedera’s technology matures and adoption potentially increases, pushing the average price to around $0.50. In a best-case scenario of continued ecosystem expansion, HBAR might reach $0.80, while more conservative growth could see it remain near a minimum of $0.25.
After reaching an all-time high of $0.58 in September 2021, HBAR entered a prolonged bear market, bottoming at $0.036 in January 2023.
Following a period of sideways consolidation, HBAR began an uptrend in October, reaching a high of $0.14 in March 2024 — its strongest level since May 2022.
While a correction followed, rebounds from key support levels in August and September and oversold RSI conditions suggested a potential bullish reversal. On Nov. 4, HBAR retested its horizontal support, reaching a low of $0.041, marking the end of its previous downtrend. It then spiked to $0.072 on November 12, showing signs of continued upward momentum.
HBAR’s recent spike likely completed a five-wave pattern, with the current decline marking the start of a corrective ABC wave. While a short-term rise may occur in wave B, another drop is expected in wave C, potentially reaching $0.048 at the 0.786 Fibonacci level.
Once this correction concludes, HBAR may resume its uptrend, with a target of $0.10 for its next high. The Hedera price prediction for the next 24 hours depends on whether it will go back up.
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Nov. 14, 2024, Hedera’s ATR was 0.0049, suggesting average volatility.
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively.
Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Nov. 14, 2024, Hedera’s RSI was 64, indicating bullish conditions.
The CCN Strength Index combines an array of advanced market signals to quantify the strength of individual cryptocurrencies over a recent 30-day period.
Every day, it assigns a strength score, ranging from 0 to 100, to the top 500 assets by market capitalization on CoinMarketCap, focusing on both trend direction and the intensity of price movements.
The index dynamically adapts to rapid changes. For example, an asset experiencing a 100% increase within a short timeframe would see a sharp jump in its score to reflect the intensity of the rise.
However, should that asset stabilize at this new price level, the score will gradually taper down and align with the dampened momentum as the movement normalizes. The same principle applies to rapid declines: a sudden drop will spike the score downward, but as volatility decreases, the score will slowly adjust back up.
On Nov. 14, 2024, Hedera scored 52.2 on the CCN Index, suggesting strong momentum.
We’ve analyzed HBAR’s price history and found the best days and months to buy it. Based on our calculations, here are the results.
Day | Wednesday |
Week | 7 |
Month | February |
Quarter | First |
Let’s look at some key dates in the Hedera price history. While past performance is no indicator of future results, knowing what the crypto has done in the past can give us some much-needed context when it comes to making or interpreting an HBAR price prediction.
Time Period | HBAR Price |
---|---|
One week ago (Nov. 7, 2024) | $0.04977 |
One month ago (Oct. 14, 2024) | $0.05359 |
Three months ago (Aug. 14, 2024) | $0.0552 |
One year ago (Nov. 14, 2023) | $0.06021 |
Five years ago (Nov. 14, 2019) | $0.03563 |
Launch price (Sept. 18, 2019) | $0.09052 |
All-time high (Sept. 16, 2021) | $0.5701 |
All-time low (Jan. 2, 2020) | $0.01001 |
The market capitalization, or market cap, is the sum of the total number of HBAR in circulation multiplied by its price.
On Nov. 14, 2024, Hedera’s market cap was $2.3 billion, making it the 45th-largest crypto by that metric.
Supply and distribution | Figures |
---|---|
Maximum Supply | 50,000,000,000 |
Circulating supply (as of Nov. 14, 2024) | 37,680,393,060 (75.36% of maximum/total supply) |
It is difficult to tell. While Hedera has made something of a name for itself by becoming the blockchain of choice for many prominent companies, it is underperforming to a certain extent. We will have to wait and see what, if anything, it can do to get more attention from investors.
No one can really tell right now. While the Hedera crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind that prices can and do go down and up.
Before deciding whether to invest in Hedera, you must do your own research on BTC and other related coins and tokens such as Ethereum (ETH). Either way, you must also ensure you never invest more money than you can afford to lose.
Hedera says in its technical documentation or whitepaper , “The network will be governed by a council of leading global enterprises across multiple industries and geographies. Its vision is a trusted and secure cyberspace without the need for centralized parties with inordinate influence. Its licensing and governance model protects users by eliminating the risk of forking, protecting the integrity of the codebase, and providing open access to review the underlying software code.”
“Platform governance will be decentralized through the Hedera Governing Council, which will have a term-limited, rotating set of governing members that each has equal voting rights over key decisions relating to the platform.”
Although blockchain technology is useful, it is not without its drawbacks. For instance, blockchains can get much slower when they are busy, meaning people spend more time and money than they would like to.
Hedera is a blockchain that aims to be faster, cheaper and more efficient than its rivals.
Every blockchain needs a coin, and Hedera has the HBAR crypto. HBAR supports the Hedera blockchain.
Hedera uses a type of technology called Hashgraph. Hashgraph uses something called a gossip protocol, which means that the computers or nodes on the network can communicate with each other easily. This, in turn, means that the system is, at least in theory, quicker. Hedera says it can process 10,000 transactions per second.
Hedera uses a Proof-of-Stake (PoS) consensus mechanism. This means that Hedera selects people to verify transactions and add blockchain blocks based on how much HBAR they hold.
HBAR pays for fees on the network. Holders can stake it in return for rewards and vote on system changes. People can also buy, sell, and trade HBAR on exchanges.
Technical analysis by Nikola Lazic.
It could do, but not until some time after 2030, according to our predictions.
Keep in mind that HBAR has never traded above the dollar. Its all-time high, which it reached in September 2021, is $0.5701.
The HBAR coin supports the Hedera blockchain. People can also buy, sell, and trade it on exchanges.