Hedera (HBAR) Price Prediction for January 20

Over the past day, the price of Hedera has risen nicely, increasing from $0.31 to $0.367, an increase of over 11%. It briefly reached a high of $0.374 but struggled to maintain that level. Additionally, Hedera’s trading volume has jumped 60.7% in the last 24 hours, reaching $1.53 billion.

Looking at a longer timeline, Hedera’s price dropped below $0.39 on December 3 and has been decreasing since then. However, after maintaining a stable range between $0.23 and $0.25 for some time, Hedera has begun to recover, preventing further price drops. Consequently, its market capitalization has grown by 10.5% to $14 billion in the last day.

HBAR Faces Drop in Long/Short Ratio

As Trump takes over, there’s a noticeable increase in buying demand for Hedera (HBAR). Currently, buyers are struggling to keep the price stable around $0.37, but they haven’t given up.

In the last 24 hours, there’s been a lot of trading activity, with a significant push from buyers. According to Coinglass, around $2.81 million worth of Hedera trades were liquidated, with $2.33 million of that from buyers closing their long positions, where they bet on price increases.

After the recent price jump, trading interest in Hedera has grown. The open interest, which shows the total number of unsettled derivative contracts, has climbed to $490 million, indicating increased market engagement.

Despite this uptrend, the market may shift downward as the ratio of long to short positions is decreasing. Currently, the long/short ratio is at 0.87, suggesting an increase in short positions, where traders bet on price drops. Right now, 46.6% of traders think Hedera’s price will go up, while 53.4% are betting it will fall.

Hedera Price Prediction: Technical Analysis

The crypto market is already on a rise as Donald Trump returns to the White House. However, the HBAR price continues to face resistance around $0.37. As of writing, HBAR price trades at $0.354, surging over 6.7% in the last 24 hours.

The HBAR/USDT trading pair continues to hover below $0.37, indicating strong selling from the bears. This price level could be a major obstacle as STHs might continue to liquidate here. If the price falls below the EMA20 trend line on the 1-hour chart, the sellers will likely try to push it back down to $0.32 at the downtrend line.

However, the RSI level continues to trade above the midline at level 52, which might trigger a retest of the resistance channel. If the price manages to hold above $0.37, it would favor the buyers. The trading pair could then increase to $0.4.

Hedera Price Prediction: What to Expect Next?

According to BlockchainReporter, HBAR price might continue to struggle below $0.37. If the price moves above that level, we might see a trade around $0.4. On the down side, $0.32 is the range.