Search Inside Bitcoins

Hedera Price Prediction: HBAR Soars 11% After Hitting 22-Month High As This New Solana Meme Coin Star Skyrockets 111% In A Week And Offers A 10% Discount

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Hedera price
Hedera price

Join Our Telegram channel to stay up to date on breaking news coverage

The Hedera price has soared 11% in the last 24 hours to trade for $0.1044 as of 4:50 a.m. EST on a 2,634% surge in trading volume.

The altcoin builds atop the gains made on Monday, which saw the smart contract token close its highest daily candle at $0.1178, levels last seen in May 2022, for a 22-month high.

Hedera Price Outlook

The Hedera price is sitting atop the 78.6% Fibonacci level at $0.1024. It has the potential to extend the fall in the wake of an overbought HBAR. This is seen by the position of the Relative Strength Index (RSI) above 70. This momentum indicator is nose-diving, to show that HBAR could soon be ripe for selling. Investors should watch for the RSI to cross below 70, a move that could open the drains for a sell-off.

If the bears have their way, the Hedera price could lose support due to the 78.6% Fibonacci level of $0.1024, or lower, retracing the 61.8% Fibonacci level, the most critical retracement level, at $0.0901. For the current bullish outlook to be invalidated, however, the price must slip and close below the 50% Fibonacci level of $0.0815. Such a move would denote a 23% drop below current levels.

Notice that the Hedera price had also broken out above the upper boundary of the Bollinger indicator at $0.1025. Often, this move precedes a pullback, adding weight to the RSI supposition mentioned above.

Hedera price

TradingView: HBAR/USDT 1-day chart

Converse Case

On the other hand, if the bulls fasten their grip on HBAR, the Hedera price could push north to clear the market range at $0.1180. In a highly bullish case, the price could extend the gains to tag the $0.1200 psychological level, standing 15% above current levels.

On-chain Metric Supporting Bearish Outlook For Hedera Price

Multiple on-chain metrics from Santiment behavior analytics took support the bearish outlook for the Hedera price. For starters, the social dominance metric is up from 0.408% to 1.105% in the last 24 hours. Social volume has also soared to 93. A significant rise in social dominance points to an increasing amount of mentions of the coin on crypto-related social media channels relative to a pool of over 50 other projects.

Hedera Social dominance

HBAR Santiment: Social dominance

According to Santiment analysts, a surge of this strength is a recipe for a correction as it inspires the fear of missing out (FOMO). Specifically, the mainstream attention pushes late investors to conform to FOMO. This leads to a possible price top and, therefore, a pullback.

While the Hedera price has HBAR holders at the edge of their seats after reclaiming its 22-month high, there is a new Solana meme coin star, Smog, which has skyrocketed 111% in a week. And it’s currently offering a 10% discount for early project entrants.

Promising Alternative To Hedera

Smog is the latest Solana meme coin and analysts say it’s set to benefit from its dragon theme, which is likely to appeal to Chinese investors amid the onset of the Chinese New Year of the Dragon.

Emerging among the most talked-about meme coins in 2024 after a debut on Jupiter DEX, Smog promises the mother of all airdrops.

Smog is committed to surpassing even the landmark $700 million airdrop on Solana. Towards this endeavor, the project has allocated 35% of the total token supply (1.4 billion tokens) for this purpose.

Holders of $SMOG tokens qualify for this historic event. Alternatively, participants can accumulate airdrop points by engaging in the Zealy campaign.

Some analysts rank Smog among the best meme coins to invest in with potential for exponential gains, while others say it is one of the best penny crypto investments. And right now you can buy and stake Smog for a 10% discount. But hurry soon to catch the deal before it ends.

Visit and buy Smog here.

Also Read:

Smog (SMOG) - Meme Coin With Rewards


Smog token
  • Airdrop Season One Live Now
  • Earn XP To Qualify For A Share Of $1 Million
  • Featured On Cointelegraph
  • Staking Rewards - 42% APY
  • 10% OTC Discount -
Smog token

Join Our Telegram channel to stay up to date on breaking news coverage

Read next