Hedera Hashgraph Price Prediction: Is Bearish Trend Over?

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Hed­era Hashgraph’s price is look­ing poised to con­tin­ue with its recent down­side push in today’s trad­ing ses­sion and is already down by a per­cent­age point. The aggres­sive push to the down­side, which start­ed last week on Sep­tem­ber 13, has seen Hed­era Hashgraph’s price drop­ping by over 20 per cent.

 A con­tin­u­a­tion of the strong and aggres­sive bear­ish trend will be in tan­dem with the cur­rent bear­ish trend of the cryp­tocur­ren­cy indus­try, which has seen mar­ket cap­i­tal­iza­tion drop­ping below $1 tril­lion in the past week.

The drop will also fol­low a gen­er­al down­ward trend that has been dis­played by oth­er major cryp­tocur­ren­cies, such as Bit­coin, which is down by 2 per cent today and has dropped by more than 7 per cent in the past sev­en days.

The rea­son for this is due to the sig­nif­i­cant cor­re­la­tion of Hed­era Hash­graph with the gen­er­al trend of these major cryp­tocur­ren­cies. There­fore, when they enter a bear­ish trend, there is a high like­li­hood of see­ing Hed­era Hash­graph also dragged down. 

Despite the drop in recent trad­ing ses­sions, Hed­era con­tin­ues to per­form in the mar­kets, with some met­rics show­ing over­per­for­mance. For instance, in the past 24 hours, Hed­era Hashgraph’s trad­ing vol­ume has gone up by 11 per cent to $39.7 mil­lion. It is also ranked as the 38th largest cryp­tocur­ren­cy by mar­ket cap­i­tal­iza­tion and con­tin­ues to grow both in trac­tion and the num­ber of users invest­ing in it.

Hedera Hashgraph Price Prediction

The chart below is clear, Hed­era Hash­graph is in a strong bear­ish trend. Today’s price drop of one per cent is also look­ing like­ly to con­tin­ue through­out the ses­sion, and there is a high like­li­hood that we might see Hedera’s price clos­ing at a much low­er price.

There­fore, my Hed­era Hash­graph price pre­dic­tion for the next few trad­ing ses­sion expects the price to be trad­ing below the $0.055 price lev­el. There is a high like­li­hood that the long-term price drop will go down below the $0.050 price lev­el. My analy­sis will, how­ev­er, be inval­i­dat­ed by prices mov­ing above the $0.060 price level.

Hedera Hashgraph Daily Chart

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