Hedera (HBAR) Price Drops by 10% Weekly, Overall Trend Still Bullish

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Hedera (HBAR) is a blockchain-based platform that uses the EOSIO software to power its smart contracts. HBAR has been on an impressive trajectory since going live in early December last year, which may be attributed to the $1 billion market cap and high trading volume as of late.

Hedera (HBAR) is a cryptocurrency that has been in the market for a while. The price of HBAR has been dropping by 10% weekly, with an overall trend still bullish.

Hedera (HBAR) Price Drops by 10% Weekly, Overall Trend Still Bullish

Hedera (HBAR) has had higher price volatility in 2021 than at any other time in its history. However, as the year draws to a close, its price is relatively modest in comparison to recent months. The coin’s price never completely recovered from the mid-November drop, and although it did rise in December, half of that gain was erased in the last week of 2021.

Price of Hedera before 2021

HBAR, Hedera’s cryptocurrency, was first released in mid-September 2019 at a price of $0.087. However, the price dropped to $0.030 very shortly after debut. It managed to rise up to $0.04 after being halted by this support, just to crash again. Its decline accelerated in the latter months of 2019 until it reached a low at $0.01.

Over February 2020, things began to improve, and HBAR even reached $0.07, just as the COVID-19 epidemic began to spread around the planet. The conventional markets fell at that moment, and the currencies followed behind owing to the crypto industry’s link with the stock market.

Hedera also discovered a new bottom around $0.03, a level that had already broken down just a few months before. This time, however, it held, and although HBAR spent much of 2020 oscillating between this level and $0.05, the support at $0.03 was never broken under it again.

In 2021, everything changed for Hedera.

In 2021, the crypto industry’s largest spike in history — which had previously only impacted Bitcoin (BTC) — began to expand to encompass altcoins, and as soon as the chance for expansion arose, Hedera seized it and began rising higher than it had ever been.

HBAR began to rise on January 1st, and although it was temporarily halted by a resistance level of $0.5, it was shortly broken. Only three weeks into the year, HBAR had already reached its first all-time high of $0.1, which also served as the next major barrier. It took another three weeks, but on February 9th, it finally occurred, and HBAR soared to $0.15.

Hedera (HBAR) Price Drops by 10% Weekly, Overall Trend Still Bullish

This milestone really pushed Hedera’s price down to $0.11, but it swiftly rebounded, and this time it soared to $0.45. The price of HBAR began to fall after this point. Even if there were several minor surges and decreases along the road, the general trend was negative, and its price decreased from $0.45 to $0.16 between March 15th and July 21st.

At this point, the scenario changed again, and Hedera launched another bullish cycle, taking it from $0.16 to a new all-time high of $0.57. On September 16th, it hit this milestone, but since it was achieved by a quick spike rather than sustained expansion, the price fell back down, just to resume its slow but steady rise.

This surge pushed it to its previous all-time high of $0.45 on November 11th, and the crypto sector saw another market-wide negative wave at that time. HBAR fell to $0.22 this time, with the tide swinging in its favor around mid-December. The price soared to $0.35 before being rejected once more, dropping to $0.3, where it currently stands at the time of writing.

Visit our Investing in Hedera guide to learn more about this token.

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Frequently Asked Questions

Is HBAR a good long term investment?

A: Its a good long term investment for people who have the patience to grow their coins.

What is HBAR trading at?

A: The highest price Ive seen for HBAR is $6.95.

How can I buy HBAR in USA?

A: HBAR was made by a US manufacturer and it is currently not available in stores. It can only be purchased online.

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Emilia James
By Emilia James

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