Hedera Crypto Price Prediction - HBAR vs IMPT 2022 - 2023
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Hedera crypto has pumped over 9% despite the bearish sentiment in the blockchain markets bringing the price back above $0.062.
Inspecting the price charts up close, we can also see a potential bearish reversal pattern known as a rising wedge forming.
Will HBAR continue to pump or will a bearish reversal take place?
Over the last few weeks the price action of Hedera has been rather volatile, seeing lows of $0.055 and highs of up to $0.084.
From a technical analysis perspective HBAR crypto is still in a major downtrend, but recent price action shows that HBAR could be setting up to do something quite bullish if price structure is not lost.
Hedera is currently forming a bearish reversal pattern on the smaller time frames however, so we could see a short-term pull back in price before potentially retesting further resistance levels such as $0.0622.
As we can see, Hedera (HBAR) crypto is forming a rising wedge on the smaller time frames, this is typically bearish and we could lose support of $0.0615 and see further negative continuation down to $0.059.
The Fibonacci retracement suggests that if the support level is lost on this particular time frame, we could retest $0.059 and perhaps get a bounce there if buyers identify value at that specific price level.
Should the HBAR bulls be able to gather enough momentum and break through the $0.0629 price levels, there is a good chance that the price of Hedera might pump up to $0.082 during Q4 2022.
In my opinion, Hedera crypto is actually extremely undervalued when contrasting the price from now to the bull market of 2021.
Things get
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