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

Indice dei contenuti

Thecoinrepublic.com

Altri articoli pubblicati su 14 lug 2024

Preparing for Altcoin Season: Grow Your Portfolio by 50-120X

Bitcoin Whales Accumulate 71,000 BTC Amidst Price Dip – Details

Altcoins Poised for Potential Growth Amid Market Volatility

Altcoin Revolution - Q3 Expecting Big Things From: (MEW), (AXS), (APORK), (NEAR)

Can Dogecoin replicate its 2021 bull run? Key metrics suggest…

Whales Became Active in the Altcoin Supported by BlackRock! They Purchased Large Quantities!

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!