In the last 24 hours, Hedera (HBAR) investors witnessed the most active period in over a month. A misunderstanding involving BlackRock caused the token’s price to rapidly rise from $0.09 to $0.17 within just two hours. Subsequently, the price began to decline again.
Events in HBAR
The misunderstanding impacted the HBAR price instantly. Rumors about BlackRock’s (NYSE: BLK) ICS USA’s independent project on tokenization spurred a brief surge in enthusiasm. Access NEWSLINKER to get the latest technology news.
However, after the misunderstanding was cleared, HBAR’s price fell again, raising questions about what’s next for the token following about a month of consolidation.
HBAR Price Forecast
According to artificial intelligence price predictions, HBAR is unlikely to experience a parabolic rise soon after the misunderstanding, but the momentum might be sufficient to sustain a modest upward trend.
AI predicts that Hedera will continue to rise slowly over the next 7 days, estimating a price of $0.137059 by May 1, 2024, which is 2.33% higher than its current price of $0.1321.
Also, well-known crypto analysts Credible Crypto and CrediBULL Crypto indicated in a post dated April 24 that HBAR is on the verge of a significant rise, showing more optimism than the AI predictions.
After completing a nice 5-wave impulse from the lows, I’m looking for this. Remember, the first step is a breakout in lower timeframe market structure to accelerate things. If we can reach a higher low afterward, we can push it back up to high levels.
In fact, the expert’s prediction suggests that a dramatic rise to $0.22 could occur before the end of April 25.
HBAR Price Outlook
Even if the price might rise to $0.22 in the next 48 hours or move to $0.137 in 7 days, HBAR’s recent price performance remains impressive, even if it was triggered by a misunderstanding.
Indeed, even on days of recent declines, Hedera displayed a 24-hour chart with a positive outlook of 52.18%, which reflected a weekly increase of 71.68%.