Hedera Hashgraph Price Prediction – Will HBAR Price Hit $1 in 2021?

This Hedera Hashgraph (HBAR) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our HBAR  price analysis and prediction.

At the start of the year 2021, it is noticeable that many altcoins have geared up and skyrocketed in their prices. The Hedera Hashgraph surprises the crypto world with its performance. Today, that crypto has had a growth rate of over 600% in the past 12 months, a level truly favored by investors.

Now that we are already knowledgeable about what HBAR is and its functions. Let us head to the charts and talk more about the profitability chance of crypto this 2021. If you are ready, let us now head to this CQ HBAR price analysis and prediction article.

What is Hedera Hashgraph (HBAR)?

Hedera Hashgraph is the trust layer of the internet which is a public network that enables individuals and companies to develop powerful decentralized applications (DApps). Moreover, the platform is created to be a fairer, more efficient system which eliminates a few of the limitations that older blockchain-related platforms will face which include slow performance and instability.

In August 2018, the platform was funded via an initial coin offering (ICO). Just over a year later in September 2019, the platform first launched open access to its mainnet. More so, as part of the ICO, investors can purchase the platform’s native utility token HBAR at the lowest pricing possible.

In addition, the HBAR token offers a dual role inside the Hedera public network. Notably, HBAR fuels the Hedera services, which include smart contracts, file storage, and also regular transactions. The Hedera Hashgraph platform is utilized to help secure the platform, since HBAR users could stake the tokens to assist in maintaining the platform’s integrity.

In terms of technology, Hedera Hashgraph (HBAR) is a proof-of-stake public network powered by hashgraph consensus. As a result, HBAR can perform fast transaction speed with low bandwidth consumption. Also, this is the reason that made HBAR one of the popular and leading digital assets in the crypto market.

Now that we are clear about HBAR do you think HBAR will be beneficial crypto in 2021? Join me and let us see the charts in this HBAR price analysis and HBAR price prediction.

Hedera Hashgraph (HBAR) Current Market Status

As of the time of writing this HBAR price analysis, HBAR trades at $0.44 with a 24-hour trading volume of $221,024,108. The price of HBAR has increased by 4.76% in the last 24 hours.

Furthermore, HBAR has a current circulating supply of 15.02B HBAR. Currently, the top cryptocurrency exchanges for HBAR are Binance, FTX, OKEx, Huobi Global, and Upbit.

Now, let’s go to the next part of this HBAR technical analysis for 2021.

HBAR Price Analysis 2021

Currently, HBAR holds the 53rd place on CoinMarketCap. But will the latest upgrades, development, and changes in the HBAR blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this HBAR price prediction article.

The above daily frame chart shows the Ascending Channel pattern. This is a bullish pattern which is formed by joining higher highs and higher lows. Based on the graph above, Hedera Hashgraph was able to defend its position well against the bears in the early days of the month.

In other words, HBAR is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with Hedera Hashgraph.

Conversely, if the bulls turn against the crypto, the price of HBAR might fall. In short, HBAR might break out from its uptrend position and nosedive to a bearish price. This pattern shows the period of consolidation that may force a price breakdown or breakout. More so, a breakdown from the lower trendline shows the start of a new bearish trend. In contrast, a breakout from the upper trendline signal indicates the beginning of a new bullish trend.

As shown above, at the beginning of this month, HBAR turned from its bear to bull trend. This happens as the result of the high trade volume that occurred in that period.

The Relative Strength Index (RSI) is above 59.36, which means that HBAR is in neither an overbought nor oversold state. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of HBAR.

Since the start of 2021, HBAR’s price has seen many bullish moves which are higher than the previous HBAR. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, HBAR has a competitive market this 2021.

HBAR Price Prediction 2021

The chart below shows that HBAR has performed great over the past few days. Moreover, the HBAR price shows a bullish trend. If this trend continues, HBAR might run along with the bulls, overtaking its $0.41 resistance level and climb higher.

Conversely, if the investors turn against the crypto, the bears might take over and push HBAR from its uptrend position. In simpler terms, the price of HBAR might decrease to almost $0.13, a bearish signal.

Meanwhile, our long-term HBAR price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.4495 this year. However, that will only happen if it breaks many previous psychological resistances.

HBAR Price Prediction 2022

If this bullish trend continues, HBAR will hit $2 by the end of 2022. Moreover, the first half of 2022 is going to reveal fast growth, up to $2.5. Then the rise will slow down, but no major falls are expected. With upcoming partnerships and developments happening, reaching $2 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

HBAR Price Prediction 2023

If HBAR holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $4, making it not plummet but play consistently.

HBAR Price Prediction 2024

As per the latest upgrades, developments, HBAR price prediction, and new project forecasts of the platform, HBAR investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of HBAR in the crypto market, and it will be the best investment as the price can spike and reach around $5.5.

HBAR Price Prediction 2025

In the next four years, HBAR prices could race up to $7. In addition, reaching this level could not be so difficult for HBAR as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that HBAR has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Hedera Hashgraph has a bright future ahead of it in 2021. With the ongoing developments happening within the HBAR ecosystem, as well as in the overall crypto market, we may see HBAR reach new heights.

Bullish HBAR price prediction 2021 is $0.5. HBAR may even reach $1 if investors have decided that HBAR is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies. 

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