Signals are not good for Hedera (HBAR) cryptocurrencies

HBAR, the cryptocurrency of the Hedera project, looks like 2024 might be a comeback year, but it has not shown good signs recently.

The first bullish wave for the cryptocurrency Hedera (HBAR)

After entering the cryptocurrency markets in 2019, Hedera’s native cryptocurrency saw a major bull run in 2021.

This has so far been the period that witnessed the greatest splendor of these cryptocurrencies in the markets.

To be honest, its price fell immediately after its debut on the exchanges, but it stopped above $0.01 during the spring 2020 eruption.

As a reference point for analyzing its price trend, it is useful to consider the $0.03 level at the end of 2020, when its price had its last major bullish wave. Bitcoin It has already started, but not yet Habbar.

At the beginning of 2021, and in just two and a half months, its value increased more than tenfold, reaching $0.36. It was a real breakthrough during the first part of the first alternate season that year.

Although its price more than halved in July, returning to $0.15, it began to rise again during the second swing season, reaching an all-time high in mid-September above $0.57.

Bear market

Until November 2021, it remained above $0.40, but when the bear market began between December 2021 and January 2022, its price began to decline.

Already at the end of 2021, it returned to $0.21, while in March 2022, it also fell below $0.2.

The biggest problem occurred with the collapse of the Terra/Luna cryptocurrency ecosystem in May 2022, when almost all altcoins collapsed.

The price of the Hedera cryptocurrency at that point fell below $0.10 within a month, then fell further to below $0.04 in January 2023.

Note that at that point, he has lost almost all of the gains he made from the upside.

In other words, the bursting of the speculative bubble in 2021 roughly brought the value of HBAR back to its pre-bubble level, which was moreover already below its initial market debut price. encryption Markets.

This situation continued until October 2023.

Hedera Cryptocurrency Awakening (HBAR)

However, with the rally at the end of 2023, Hedera’s cryptocurrency price trend has seen a recovery.

In fact, in November last year, it rose to $0.08, thus doubling from the bear market lows, and with the start of 2024, it marked a real recovery that in March managed to bring it back above $0.13. sign.

However, this recovery did not last long, and over the following months, the HBAR price returned to where the rise started, i.e. below the $0.05 mark.

In other words, even the 2023 awakening was nothing more than a small bubble that inflated and then burst, sending the price back to where it came from.

In practice, the fateful threshold of $0.04 was reached in 2020, 2022, 2023, and also in 2024.

This is definitely not a good sign indeed.

Newest Mini Pola

With the electoral victory of Donald Trump, it seems that a new small bubble has inflated in the price of the Hedera cryptocurrency.

Although there are clear differences this time compared to last year, the global trend does not appear to be completely different.

From November 5 to December 7, HBAR rose from just over $0.04 to over $0.36, again with nearly tenfold growth in about a month.

The problem is that in the following days it started to decline again, showing what appeared to be signs of a new mini-bubble.

At the moment, HBAR price is below $0.27, with lower highs dangerously close to $0.20.

However, it is still unclear whether the bursting of the small bubble will continue, or if it has the strength to respond.

near future

At the moment, the dividing line appears to be $0.30.

Below this threshold, it seems unlikely that a rise in HBAR will begin.

In fact, if it remains below $0.27, there are concerns that the mini-bubble will simply continue to deflate.

Note that the price trend of Hedera cryptocurrency tends to rise very quickly, but fall a little slower, so it may not rise or fall soon.

This means that in theory, there may also be conditions for recovery, provided that the cryptocurrency market fully recovers.

Hedera coin is actually a speculative cryptocurrency, which only performs well during bubbles or mini-bubbles, instead, for the rest of the time, it always seems to target $0.04. However, it is not necessarily the inevitable result of the bursting of the latest mini-bubble, but caution is needed because after a big uptrend in cryptocurrencies, a bear market always follows.

Moreover, almost all altcoins have performed poorly in recent days, so it is up to Bitcoin to revive the cryptocurrency’s bullish movement.