Many cryptocurrencies have geared up and surged in price at the start of the year 2022. The performance of the Hedera Hashgraph astounded the crypto community. Today, cryptocurrency is over 875 percent since the last year. It shows that investors highly prefer it. Now that we know what HBAR is and how it works, let’s move on to the next step. Let’s take a look at the charts and see how profitable crypto may be in 2022. Let’s start with the CQ HBAR price prediction and analysis post.
What is Hedera Hashgraph (HBAR)?
The internet’s trust layer, Hedera Hashgraph, is a public network that allows individuals and businesses to create powerful decentralised apps (DApps). Furthermore, the platform is designed to be a more equitable and efficient system that overcomes some of the drawbacks that earlier blockchain-related platforms have, such as sluggish performance and instability.
The initial coin offering funded the platform in August 2018. In September of this year, the platform made its mainnet available to the public for the first time. Furthermore, as part of the ICO, investors will be able to acquire HBAR, the platform’s native utility token, for the lowest feasible price.
Furthermore, the HBAR token serves a second purpose within the Hedera public network. HBAR is particularly important since it powers Hedera’s services, which include smart contracts, file storage, and regular transactions. Since HBAR users might stake the tokens to help preserve the platform’s integrity, the Hedera Hashgraph technology is used to help protect the platform.
Hedera Hashgraph (HBAR) is a proof-of-stake public network driven by hashgraph consensus in terms of technology. As a result, HBAR can handle high transaction speeds while consuming little bandwidth. This is also why HBAR has become one of the most popular and well-known digital assets in the crypto industry.
Do you believe HBAR will be helpful crypto in 2022 now that we have a better understanding of it? Join me in this HBAR price analysis and HBAR price forecast as we look at the charts.
Current Market Situation for Hedera Hashgraph (HBAR)
HBAR is now trading at $0.3043 with a 24-hour trading volume of $101,267,971 at the time of writing this HBAR price research. The price of HBAR had dropped by 3.62 percent in the previous 24 hours. Furthermore, the current circulating supply of HBAR is 18.09 billion HBAR. Binance, OKEx, Huobi Global, KuCoin, and HitBTC are the main cryptocurrency exchanges for HBAR right now.
Let’s move on to the next section of this HBAR technical analysis for 2022.
Price Analysis of the Hedera Hashgraph (HBAR)
HBAR is currently ranked 35th on CoinMarketCap. The Descending Channel pattern may be seen on the daily frame chart. The merging of higher highs and higher lows creates a bullish pattern. According to the graph above, HBAR was able to hold its ground against the bears early in the month.
To put it another way, HBAR is preparing for a probable bullish rebound in the days ahead. If this occurs, the cryptocurrency may be able to break through its resistance level and hit a positive price. Of course, if the bullish market continues to favour HBAR, this is the most likely scenario.
If the bulls turn against the cryptocurrency, the price of HBAR may plummet. In other words, HBAR might break out of its uptrend and plunge to a negative price. This pattern depicts a period of consolidation that might lead to a price breakthrough or collapse. A breach of the lower trendline, in particular, signals the commencement of a new negative trend. A breakout from the upper trendline indication, on the other hand, signals the start of a new bullish trend.
HBAR shifted from a bearish to a bullish trend at the start of this month. This is due to the significant transaction volume that happened during that time period. Because the Relative Strength Index (RSI) is more than 48.68, HBAR is neither overbought nor oversold. Keeping all of this in mind, traders can avoid incurring unexpected losses as a result of the crypto market’s violent fluctuations.
HBAR’s price has undergone multiple positive swings since the beginning of 2021, many of which are greater than the preceding HBAR. Moreover, these are immediately followed by volatility, consolidation, and corrections. Taking this into account, HBAR will have a competitive market in 2022.
HBAR Price Prediction 2022
The graph demonstrates how well HBAR has fared in recent days. In addition, the HBAR price is in a positive trend. If the current trend continues, HBAR may follow the bulls, breaking over the $0.58 resistance level and surging higher.
In the event that investors turn against cryptocurrency, the bears may seize control and force HBAR out of its uptrend. In layman’s words, the price of HBAR might drop to about $0.13, indicating a negative indication.
Meanwhile, we have a positive long-term HBAR price projection for 2022. It has a good chance of breaking over its current all-time high (ATH) of $0.57 this year. However, this will only happen if it overcomes several earlier psychological barriers.
HBAR Price Prediction 2023
HBAR will reach $7.5 by the end of 2023 if the current bullish trend continues. Furthermore, growth will be rapid in the first half of 2023, reaching $4. The growth will thereafter moderate, but no significant drops are forecast. With impending collaborations and innovations, hitting $7.5 is a bit of a stretch in terms of pricing, but it’s certainly doable in the near future.
HBAR Price Prediction 2026
HBAR prices might reach $50 in the next four years. Furthermore, HBAR may find it easier to attain this level if additional medium, short-term, and long-term price goals for purchase or sell orders can be discovered. As a result, according to the forecast, HBAR has a good chance of attaining a new ATH in the next five years.
HBAR Price Prediction 2031
According to Hedera HBAR price projection and technical analysis, the HBAR price is predicted to reach an average price level of $117.27 in 2031, with a minimum price value of $116.68 expected before the end of the current year. Furthermore, HBAR has a maximum price of $119.55.
In 2022, Hedera Hashgraph has a promising future. We may see HBAR reach new heights as a result of the continuous advancements inside the HBAR ecosystem, as well as in the larger crypto market. $0.5 is the bullish HBAR price estimate for 2022. If investors conclude that HBAR, along with popular cryptocurrencies like Bitcoin and Ethereum, is a solid investment in 2022, it may even reach $3.
Also read: Bitcoin Cash Price Prediction 2021 to 2030