Hedera Hashgraph Price Prediction: The Bear Trend Continues

Summary:

Hedera Hashgraph is down by a percentage point in today's trading session despite being among the few projects partnering continuing to grow.

Despite being one of the few cryptocurrencies that has continuously worked to bring new solutions to the market since the May cryptocurrency collapse, Hedera Hashgraph has continued to struggle in the markets. Today, the prices are down a percentage point after the last three consecutive bullish moves. The bullish moves, however, were not strong enough to reverse the 23 per cent price drop in June.

Hedera’s Continued Adoption

Recent news reports indicate Hedera Hashgraph has been getting into partnerships with other projects as it continues to expand. Recently, it was reported that Hedera Hashgraph had given a grant for the p2e racing game Meta Wizards. The game is expected to be built on the Hedera Hashgraph network. The low cost of the Hedera chain will allow game users to use the game with close to zero gas fees.

There are also reports of Tangent Finance launching their first DEX on Hedera Hashgraph early this month. The leading advanced automated market maker (AMM) style Dex would see both platforms benefit, with Tangent Finance becoming part of one of the largest cryptocurrency communities.

These partnerships and adoption, however, have not translated to the markets and stopped the bleed. They have not stopped the crypto from dropping by 23 per cent in June.

Hedera Hashgraph Price Prediction

The price is down by a percentage point in today’s trading session. This is despite giving signals in the past week of a bullish trend reversal. Today’s price drop is likely a reversal of the long-term bearish trend that has resulted in the Hedera Hashgraph price dropping by 23 per cent in June.

Therefore, taking into account the long-term trend and the current price action, my Hedera price prediction expects the prices to continue going down for the next few trading sessions. I expect the prices to hit the $0.059 support level and likely break to the downside to hit the long-term $0.048 support level.

However, my bearish analysis will be invalidated in case the prices trade above the $0.090 price level. At that point, it will be clear that the trend has reversed, and we have entered a bull market. It will also be clear that we should expect the next price level to be above the $0.1 price level.