Hedera Price Prediction 2024 – Is $HBAR Price Ready for a Bullish Rally?

Hedera’s partnership with the United Nations to combat climate change represents an important step forward for the platform and its positive price trajectory.

The United Nations Framework Convention on Climate Change (UNFCCC) has approved a joint initiative involving Hedera, Envision Blockchain, and Swirlds Labs to create a cutting-edge carbon data platform called Guardian and Managed Guardian Service.

Leveraging Hedera’s blockchain and token, $HBAR, this initiative enhances transparency in carbon markets and eliminates the need for intermediaries. Hedera Guardian is a leader in digital measurement, reporting and verification (dMRV) within carbon markets.

Envision Blockchain Solutions and Swirlds Labs each provide expertise in Web3 applications and development support for the Hedera network.

Hedera Overview

Hedera is an innovative public network founded in 2018 by Dr. Leemon Baird and Mance Harmon. It operates on a Proof-of-Stake (PoS) mechanism with a unique Hashgraph consensus and aims to provide a faster and more secure alternative to existing blockchains.

With the capacity to process up to 10,000 transactions per second (TPS), it differentiates itself with efficient bandwidth usage and fast transaction speeds. The network, built on the directed acyclic graph of graph theory, ensures immutable transaction records.

Hedera’s Asynchronous Byzantine Fault Tolerance (ABFT) consensus improves transaction verification efficiency, security, and logical consistency compared to traditional blockchain methods.

By supporting smart contracts, Hedera facilitates the creation of decentralized applications (DApps) that enable secure and efficient exchanges without intermediaries. Scalability and innovative consensus model position Hedera as a potential leader in the distributed ledger technology space.

$HBAR Price History

In 2020, Hedera achieved gradual growth as its potential became more widely recognized. The following year, 2021, the price of $HBAR surged significantly, peaking at approximately $0.57 in September, driven by the overall bullish trend in the cryptocurrency market and Hedera’s technological advancements.

However, 2022 suffered due to the market downturn, with the price falling and reaching lows near $0.07. This trend has continued until 2023, with HBAR tokens following a downward trajectory. By early summer, $HBAR was trading at around $0.052, and its value continued to decline.

On August 14, the price of $HBAR increased by 16% following news that the Federal Reserve’s FedNow was integrating Dropp, a Hedera-based micropayment platform. In particular, the adoption of the Hedera network by major automobile manufacturers such as Hyundai and Kia Motors marks an important milestone.

As of December 23, Hedera’s current price is $0.091, ranking it 32nd in $HBAR in the cryptocurrency ecosystem, with a 24-hour trading volume of $93.38 million and a market capitalization of $1.36 billion.

In the last 24 hours, the cryptocurrency has seen a slight increase of 0.46% and has shown a positive upward trend over the past 7 days with an increase of 14.29%.

$HBAR price prediction

Hedera’s short-term 50-day simple moving average (SMA) is expected to hit $0.066 and its 200-day SMA is expected to hit $0.054. The Relative Strength Index (RSI) value is currently at 74.07, indicating an overbought market situation and suggesting a potential price increase.

Hedera’s support level is $0.087, with the strongest support level at $0.0808. Resistance levels are identified at $0.094 and $0.100. According to the forecast, the minimum target price is $0.083 and the maximum target price is $0.93 by the end of 2023.

Forecasts suggest a minimum of $0.95 and a maximum of $0.138 for 2024. Hedera shows strong potential and presents a lucrative investment opportunity.

Watch the video above for a detailed analysis of the $HBAR price prediction, and consider subscribing to his YouTube channel for additional insights on cryptocurrency price prediction. Jacob Crypto Bury moderates a Discord community of 17,000 members, providing trading tips and information on upcoming cryptocurrency presales.

Is Hedera Crypto a Good Buy?

Hedera is gaining attention as a promising investment due to its innovative approach that combines the advantages of public and private ledgers, allowing customers to enjoy the privacy of a decentralized platform while enjoying the security benefits of a centralized network.

The platform prioritizes the creation of a fast and secure network that promotes equality for all users. Hedera’s commitment to zero carbon sets it apart as a sustainable and environmentally friendly cryptocurrency, providing an alternative to the energy-intensive processes of early blockchains like Bitcoin.

In ~ #COP28In cooperation with @UNFCCC, @env_blockchainand @swirldslabswe are @girl name Guardian – the world’s leading platform for digitization and digital measurement, reporting and verification (#dMRV) for carbon markets 🌎 pic.twitter.com/4IysPOlT9j

— HBAR Foundation (@HBAR_foundation) December 4, 2023

Additionally, Hedera’s unique features allow users to stake their currency and earn rewards, contributing to network stability. This creates a situation where users can not only support the network but also benefit from their investment.

Hedera shows significant investment potential, but you can visit our article on the best cryptocurrencies to buy now, which presents additional opportunities with high upside potential.

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