Hedera

Bitcoin

Million

View

Coin

The crypto market experienced a significant downturn at the very beginning of July,&nbsp; with Bitcoin dropping to a low of $54K, thus causing a panic selloff in the altcoins.&nbsp; 
When Bitcoin tanks, so does the rest of the cryptocurrency market. In tandem with the broader markets, <a href="https://www.thecoinrepublic.com/price-prediction/hedera/">Hedera (HBAR)</a> also suffered heavily, with investor confidence waning.&nbsp; 
Despite the recent recovery in Bitcoin and broader markets, HBAR has yet to regain investor trust. However, its price is stabilizing near support levels, suggesting a potential bullish comeback. 
Hedera is a highly utilized, sustainable, enterprise-grade public network for the decentralized economy, enabling the creation of powerful decentralized applications. It has a live market capitalization of $2.54 Billion and ranks 32nd in the cryptocurrency market. 
<h2 class="wp-block-heading" id="h-weighted-sentiment-curve-highlights-investors-confusion">Weighted Sentiment Curve Highlights Investors’ Confusion</h2> 
Hedera was a highly-touted Layer 1 platform during the 2021 crypto bull cycle, reaching its all-time high (ATH). However, in 2024, the open-source proof-of-stake protocol has struggled to impact the market significantly. 
As of July, HBAR has been in a downtrend, hovering around $0.06. Recent sessions show price stability near the support levels, suggesting a potential rebound. <iframe loading="lazy" title="Santiment Chart: Negative sentiment (Total) (HBAR), Positive sentiment (Total) (HBAR), Weighted sentiment (Total) (HBAR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=hedera-hashgraph&amp;pt=HBAR&amp;df=2024-06-12T18%3A30%3A01.614Z&amp;dt=2024-07-13T18%3A29%3A59.614Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_negative_total%3Bsentiment_positive_total%3Bsentiment_volume_consumed_total&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221h%22%7D%3B%7B%22interval%22%3A%221h%22%7D%3B%7B%22interval%22%3A%221h%22%7D" scrolling="no"></iframe> 
According to data from Santiment, positive sentiment has been rising recently. However, the weighted sentiment curve frequently crosses the zero line, indicating investor uncertainty. 
Furthermore, the transaction volume reveals a growth of nearly 37% a day and has reached $46.77 Million a day. The rise in transaction volume highlights an increased demand. The volume to market capitalization at 1.85% suggests low volatility.&nbsp; 
<h2 class="wp-block-heading" id="h-hedera-price-analysis-from-a-technical-point-of-view">Hedera Price Analysis From a Technical Point of View</h2> 
The HBAR has been in a downtrend since the 2nd week of May. Connecting the highs, a trendline resistance may be easily drawn over the HBAR/USD daily chart. The price suffered rejection, respecting the trendline resistance in May. 
HBAR is stabilizing near the demand zone. The key EMAs have been acting as a dynamic resistance.  
<a href="https://in.tradingview.com/chart/HBARUSD/Vwctwv4f-Hedera-HBAR-fails-to-spark-investor-interest-Can-It-Crash/"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a>&nbsp; <a href="https://in.tradingview.com/"> </a>  
HBAR may continue to show a sideways trend until it hovers in the range formed between the 20-day EMA and the demand zone of $0.64 level.&nbsp; 
A breakout above the 20-day EMA may bring back confidence among the investors, and the price may recover. Meanwhile, a breakdown below the demand may suggest continuing a bearish trend. 
When writing, the RSI line was headed towards the mean line and placed at 43.9 points. On the other hand, the 14-day SMA line was at 34.3 points. Moreover, a bullish crossover of both lines was observed, indicating a possible rebound in the price.&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="h-what-s-next-for-hedera-hbar">What’s Next for Hedera (HBAR)?</h2> 
The crypto market experienced a downturn in early July, with Bitcoin dropping towards $54K, causing a panic selloff in altcoins, including HBAR.&nbsp; 
Despite a broader market recovery, Hedera has yet to regain investor trust. However, HBAR shows signs of stabilizing near the support level, indicating a potential for a bullish rebound. 
Moreover, the positive sentiment is rising, though investor uncertainty remains. The transaction volume increased by 37%, reaching $46.77 Million daily.&nbsp; 
HBAR faced resistance near the key EMAs and may move sideways between the 20-day EMA and the $0.64 demand zone. A breakout above the 20-day EMA could restore investor confidence. 
The post <a href="https://www.thecoinrepublic.com/2024/07/14/hedera-fails-to-spark-investor-interest-will-it-crash-more/">Hedera Fails To Spark Investor Interest: Will It Crash More</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Hedera Fails To Spark Investor Interest: Will It Crash More

Table of Contents

Thecoinrepublic.com

Other articles published on Jul 14, 2024

Bitcoin Surges Post-Trump Attack: XRP Heading to $20? Don’t Miss Furrever Token’s Presale Ending!

MoonBag’s Stellar Crypto Presale in 2024: Paving the Way for the Future of Crypto, Outperforming ...

MoonBag’s Epic Journey: From Challenger to Champion in the Best Meme Coin Presale, Defeating Rend...

XRP Gains Momentum: Predictions Point to Substantial Growth

Experts Share Observations on Bitcoin’s Future

Bitcoin Drives Economic Discussions with Deflation Insights

Join our free newsletter for daily crypto updates!