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Hedera Price Prediction: HBAR Plummets 34% On BlackRock Denial As This SOL Meme Coin Gives Investors Last Chance To Buy

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Hadera Price
Hadera Price

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The Hedera price plummeted 34% in the last 24 hours to trade at $0.1132 as of 00:15 a.m. EST on trading volume that dropped 13% to $1.9 billion.

This comes after BlackRock confirmed that it has ‘no commercial relationship’ with Hedera and that it did not choose the Hedera Hashgraph to tokenize any BlackRock funds, which include shares of its $22 billion money market fund.

On Tuesday, Hedera announced that blockchain firms Archax and Ownera tokenized BlackRock’s ICS U.S. Treasury Fund on Hedera. The Hedera token, HBAR rallied 100% after that announcement.

Many misinterpreted the post to suggest BlackRock played an active role in the tokenization effort. However, BlackRock was keen to refute the claims, stating that it did not select Hedera to tokenize any BlackRock funds.

Hedera Price To Soar Even Higher Over The Consolidation Channel

Hadera Price Chart Analysis Source:
HBARUSD Chart Analysis Source:

The Hedera price was in a consolidation phase from the end of February to the whole of March, trading within the $0.10 and $0.14 range. However, in April, HBAR has been on a downward trend, leading to a retreat by the bulls to the $0.07 level.

The support of around $0.07 allowed the bulls and the bears to fight for dominance and a breakout. The bulls seem to have won the struggle, pushing the price over the consolidation channel as they aim to sustain their bullish stance.

HBAR also trades above the 50-day and 200-day Simple Moving Averages (SMA), which still indicates that the price has the potential for further upside.

Additionally, the reading on the Relative Strength Index (RSI) coincides with the price decrease, as the RSI drops from the overbought region to trade within the 50-midline level at 51. If the bulls are able to sustain the bullish momentum in the long term, the RSI could rebound, further boosting the bullish sentiments.

Hedera Price Prediction

The Hedera price analysis shows a bullish bias, with HBAR crossing over the consolidation channel to the upside. With the current price movements, HBAR bulls are targeting prices over $0.16.

However, the 50-day SMA crosses below the 200-day, forming a death cross at $0.115. A death cross often indicates a bearish trend, which could push the price down. In such a scenario, bears could take charge of the price, driving the price down to the support zone of around $0.08 and acting as a cushion against downward pressure.

Meanwhile, investors are also piling into Slothana, a sloth-themed token that’s gearing up for its launch after blasting past $15 million in its presale.

Slothana Presale Ends Soon – Last Chance To Buy Before Exchange Listings

In recent months, Solana meme coins like Slerf, DogWifHat, and Bonk have often outpaced the gains posted by other meme coins like Floki, Pepe, and Shiba Inu on other blockchains 

The successes helped drive Slothana’s (SLOTH) $15 million presale as investors piled into the network’s next potentially viral meme coin amid a tidal wave of FOMO.

Slothana draws its inspiration from popular Solana meme coins such as $SLERF, $PUMP, $PUNDU, and $BOME, which pioneered a new way of launching on Solana.

This new method does not involve any price stages, timers, or hardcaps. Investors can either send SOL to the project’s wallet address or visit the Slothana website, connect their wallet, and make a direct purchase. Tokens will be airdropped to investors at the end of the presale.

According to Cryptonews, a prominent crypto channel on YouTube, Slothana has the potential to surge 10X after launch.

The presale ends in less than four days, with the developer now offering a last chance to buy.

To participate in the presale, buy $SLOTH on the official website here. For every 1 SOL sent to the address, you will receive 10,000 $SLOTH.

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