The current situation of Hedera (HBAR) is not very optimistic, especially as the cryptocurrency market is in a general recession. After some recovery phases in 2023 and early 2024, HBAR is facing the risk of depreciating again, with a concerning price below $0.27 and an important support level at $0.20.
Current negative factors:
1. Recent mini-bubble: Although the price surged in November 2024 from $0.04 to over $0.36, the subsequent downtrend has indicated that this may just be a temporary bubble.
2. Potential to break support levels: If HBAR's price cannot hold above $0.27 or even $0.30, the chances of short-term recovery are very low.
3. Prolonged downtrend: Since 2021, HBAR has continuously depreciated after each strong rally, reflecting weakness in maintaining long-term growth momentum.
Short-term outlook:
• Recovery expectation: HBAR could still rise if the overall cryptocurrency market (especially Bitcoin) has a strong recovery.
• Important threshold: Maintaining above $0.30 is a necessary condition to restart a new bull run. Otherwise, the price is likely to return around $0.04 as in previous years.
Long-term outlook:
Hedera is a highly speculative asset, heavily dependent on the bubble burst or favorable conditions of the overall cryptocurrency market. Without significant developments in technology or practical applications, HBAR will struggle to overcome the downtrend cycle. Investors need to carefully consider and monitor the market cautiously.
In summary, Hedera is currently in an unstable condition. Future recovery depends heavily on Bitcoin and the cryptocurrency market in general. Important price levels to watch are $0.30 and $0.20 to assess the next trend of HBAR.