Hedera price prediction: HBAR eyes $0.25 amid SWIFT blockchain trials

Key takeaways

The crypto market has turned bearish again after a temporary relief on Wednesday.
HBAR is down 1% but could rally higher amid a bullish outlook.

SWIFT launches live blockchain trials featuring Hedera

HBAR, the native coin of the Hedera blockchain, is down 1.2% in the last 24 hours despite positive development within the ecosystem. At press time, HBAR is trading at $0.235, but could rally higher in the near term.

The negative performance comes despite the global payments network SWIFT launching live blockchain trials featuring Hedera. In addition to that, asset manager Grayscale filed a Delaware trust for HBAR, a move viewed by some as laying groundwork for a future spot HBAR ETF.

However, HBAR’s value hasn’t increased as the broader crypto market is still bleeding. The bearish market conditions can be attributed to the hawkish FOMC minutes released on Thursday. The recent inflation data and the hawkish FOMC minutes have dented hopes of a September rate cut by the Fed.

This resulted in Bitcoin dropping below $113k while Ether continues to struggle around the $4,200 mark.

HBAR targets $0.25 despite bearish market conditions

The HBAR/USD 4-hour chart is bearish and efficient thanks to the market’s ongoing correction. The technical indicators are also bearish, suggesting that sellers are currently in charge.

The MACD lines are within the negative territory, while the RSI of 42 shows that HBAR’s current outlook is bearish. If the selling pressure continues, HBAR could drop below yesterday’s low and retest the Monthly low of $0.22461. The bulls would defend this support zone, as failure to do so could see HBAR drop massively to the $0.19 region.

However, the positive developments within the Hedera ecosystem could push HBAR’s price higher in the near term. HBAR could target the 4-hour TLQ at $0.243 before attempting to top the $0.25 level for the second time this week.

The post Hedera price prediction: HBAR eyes $0.25 amid SWIFT blockchain trials appeared first on CoinJournal.

Il contenuto di questa pagina è fornito da terze parti. Salvo diversa indicazione, OKX non è l'autore degli articoli citati e non rivendica alcun copyright sui materiali. Il contenuto è fornito solo a scopo informativo e non rappresenta le opinioni di OKX. Non intende essere un'approvazione di alcun tipo e non deve essere considerato un consiglio di investimento o una sollecitazione all'acquisto o alla vendita di asset digitali. Nella misura in cui l'IA generativa viene utilizzata per fornire riepiloghi o altre informazioni, tale contenuto generato dall'IA potrebbe essere impreciso o incoerente. Leggi l'articolo collegato per ulteriori dettagli e informazioni. OKX non è responsabile per i contenuti ospitati su siti di terze parti. Gli holding di asset digitali, tra cui stablecoin e NFT, comportano un elevato grado di rischio e possono fluttuare notevolmente. Dovresti valutare attentamente se effettuare il trading o detenere asset digitali è adatto a te alla luce della tua situazione finanziaria.