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AI predicts HBAR price for May 1, 2024

AI predicts HBAR price for May 1, 2024

The last 24 hours have been the most eventful for Hedera (HBAR) traders in well over a month as a BlackRock-related misunderstanding caused the token to rapidly rocket from $0.09 to $0.17 within 2 hours, only to start dropping again.

As it turned out, an independent project to tokenize BlackRock’s (NYSE: BLK) ICS U.S was misinterpreted as an official effort driving the enthusiasm – and the prices – toward the sky.

Still, despite the misunderstanding getting cleared up in the meantime – bringing HBAR’s price back down – the awakening of Hedera from its month-long slumber raised the question: what is next for the token?

In its quest to find answers, Finbold decided to consult the predictive artificial intelligence (AI) algorithms of a platform specializing in predicting future cryptocurrency prices – PricePredictions – on how HBAR might fare by May 1.

AI forecasts Hedera price on May 1

According to the AI’s prediction, while HBAR will not see a parabolic rise following the misunderstanding, the momentum is likely to be enough to cause a moderate uptrend.

Indeed, the platform forecasts that Hedera will continue climbing slowly over the coming 7 days and will find itself at $0.137059 on May 1, 2024 – 2.13% above its press time price of $0.1342.

HBAR forecast for May 1, 2024. Source: PricePredictions

At the same time, crypto experts are more bullish on the token than AI as analysts known as Credible Crypto on YouTube and CrediBULL Crypto on X opined in an April 24 post that HBAR is poised for a substantial surge. 

“Looking for something like this after completing a nice 5 wave impulse off the lows. Note the first step is a break in lower timeframe market structure to kick things into gear. After that if we can print a higher low we should be able to run it back to the highs.”

In fact, the expert’s prediction also forecasts a dramatic rise toward $0.22 before the end of April 25.

HBAR price surge projection chart. Source: @Credible_Crypto

HBAR price chart

Whether the coming 48 hours bring a surge to $0.22 or the coming 7 days a climb toward $0.137, HBAR’s recent performance – even if driven by misunderstanding – is nothing short of impressive.

Indeed, even with the most recent fall, Hedera is 52.18% in the green in the last 24 hours in the crypto market and 71.68% up on the weekly chart. HBAR price today, at press time, stands at $0.1342.

HBAR 7-day price chart. Source: CoinMarketCap

Longer-term, Hedera has also been showing significant strength as it rose 56.17% since the start of 2024 and as much as 119.90% in the last 52 weeks.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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