– Hedera Hashgraph price is set to devalue as supply increases in March.
– HBAR will unlock 6.28% of supply after the vesting period.
– Expect HBAR to hit $0.06 once unleashed supply has been absorbed.
Hedera Hashgraph (HBAR) has bulls running for the hills as another vesting period is coming to an end in March.Throughout the next month, roughly 3 billion tokens will be unleashed in the markets, forcing supply to outpace demand.It is very simple in Economics 101 that if supply increases more than demand, the price must decrease also.
Hedera Hashgraph forces rethink about supply and demand
Hedera Hashgraph (HBAR) is
ringing the bell on the crypto school grounds in order to start giving bulls their first lesson in supply and demand.In March, roughly 3 billion tokens will be released after a vesting period.
With roughly 6.28% of supply entering a free market, HBAR bulls will want to stay sidelined and await a coming price adjustment.
HBAR will see price
devaluing under that oversupply toward $0.065 as the Relative Strength Index (RSI) needs to absorb the supply.
It could even well be that $0.06 gets tested before the RSI reaches oversold.Once a new price equilibrium is reached, bulls will start to buy again and push price action back up.
HBAR/USD daily chart
With the already sharp decline of 18% since last week, a lot has been priced in already.
Meanwhile, the
economic data calendar is mild and calm for the rest of the week while geopolitical forces fade a bit into the background.
Expect to see a bounce higher toward $0.085 as most of the additional supply has already been deducted from the current price action.
Information on these pages contains forward-looking statements that involve risks and uncertainties.Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
You should do your own thorough research before making any investment decisions.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.
All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations.
The author makes no representations as to the accuracy, completeness, or suitability of this information.FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Join Telegram
Follow us on Telegram
Stay updated of all the news
Recommended Content
Editors’ Picks
Here’s why Bitcoin miners are bullish and what it means for BTC
Bitcoin miners are engaged in an arms race in computing power.
The recent recalculation increased BTC mining difficulty by 9.95%, despite the spike miners are deploying capital to expand operations.
More Bitcoin News
Chainlink price prediction: Here’s why LINK is gearing up for a 10% price rally
Chainlink (LINK) price is in a short-term uptrend, the asset is close to a key resistance level at $7.41.Although LINK has flipped this hurdle into a support floor previously, investors are awaiting a climb above key resistance to confirm the continuation of the uptrend.
More Chainlink News
Everything you need to know about Ethereum’s Shanghai hard fork and why it matters
Ethereum network is preparing for the Sepolia testnet at 4 pm UTC on February 28 and the Shapella hard fork in March 2023.The combination of Shanghai and Capella hard forks marks a milestone in the development of the largest altcoin in the crypto ecosystem.
More Ethereum News
What to expect from MATIC price with Polygon’s series of partnerships and upcoming zkEVM launch
MATIC, the native token of the Ethereum scaling solution Polygon is on track to recoup its recent losses.Polygon network entered a series of partnerships with name brands like Mastercard, Starbucks among others, helping MATIC gain popularity as the token of the largest Ethereum sidechain.
More Polygon News
Bitcoin: Reversal signs push BTC holders to tread cautiously
Bitcoin (BTC) price is in limbo and has been grappling with coinciding hurdles on multiple timeframes for nearly two weeks.As bulls and bears fight for control, altcoins are in chaos; some are exploding, others are pulling back after quick and impressive gains.
Read full analysis.
