HBAR price prediction: Will Hedera Maintain Its Recent Momentum?

The Hedera blockchain network’s native cryptocurrency HBAR is on track to have its most bullish month ever. This warrants a look at a HBAR price prediction since it could be one of the top picks for investors.

But before we get into HBAR price prediction, it would be prudent to look at its recent price action, as well as network performance. These may offer better insights when it comes to the prediction part.

Hedera and HBAR have been around since late 2019, and was thus present during the 2021 bull run. During which it peaked as high as $0.57 on exchanges such as Binance. However, it has since been favored by the bulls and struggled to recover back to those historic highs.

HBAR price history

For context, HBAR traded as low as $0.04174 on 4 November. This was its lowest price point so far this year. It was equivalent to a 92.72% discount from its all-time high. In other words, it was one of the best bargains in the market earlier this year and many investors took note.

HBAR managed to capitalize on growing market hype and liquidity inflows for an impressive 276% upside in the last 2 weeks. It peaked at $0.157 in the last 24 hours but the overbought nature allowed profit-taking which then pulled it back to a $0.138 press time price tag.

This rally saw Hedera’s marketcap grow from as low as $1.58 billion this month to over $5.4 billion. That kind of growth underscores the return of whales, possibly in anticipation of more upside. This observation was vital for a HBAR price prediction.

Hedera’s network activity

A fair understanding of Hedera’s network activity may also help to formulate a decent understanding of organic demand forces. Such data may therefore be essential for a HBAR price prediction. Hedera had a TVL of $109.35 million at the time of writing. For perspective, the TVL hit its lowest point at $40.68 million on 4 November.

The network’s TVL surged by over $68 million in just 2 weeks. Despite this, the TVL was still lower than its 2024 peak level at $156.73 million. Also, the latest price and TVL uptick also brought forth a spike in volume. Hedera’s on-chain volume peaked at $42.67 million in the last 24 hours.

The volume spike was the highest recorded so far in 2024. For context, Hedera’s daily on-chain volume has been averaging less than $2 million for months. Its previous highest volume spike was on 24 April when it surged to $36 million.

HBAR price prediction

HBAR’s recent upside confirms that investors still find the cryptocurrency attractive. In other words, it will likely continue to rally as the bullish times continue. The cryptocurrency could rally for another 100% towards the end of 2024 and possibly more in 2025. Here’s a chart depicting our predictions.

HBAR was due for a much needed recovery and based on its recent performance, that recovery may already be underway. This means there is a decent chance that it will achieve some if not all of the above targets. However, this depends on the level of demand that will play out in the next few months.

HBAR price prediction Conclusion

The resurgence of demand means HBAR is hot once again and this could pave the way for more liquidity inflows in the coming days. However, the HBAR price prediction figures presented above do not constitute financial advice.

HBAR may offer opportunities ahead but investors should proceed cautiously. There are no guarantees that things will play out as predicted, hence warranting a well-researched approach.

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