Hedera (HBAR) Analysis: Price Rises 4.73% as Volume Surges 68%

Hedera (HBAR) rose to $0.3018, recording a 4.73% increase over the past 24 hours. Over the last 7 days, HBAR’s price gained 1.54%, showing consistent upward movement. 

The 24-hour trading volume jumped to $1,650,724,941, reflecting a 68.20% increase from the previous day, signaling growing market activity.

With a circulating supply of 38 billion HBAR, Hedera’s market capitalization now stands at $11,276,482,178. The sharp increase in trading volume highlights rising interest from investors as the asset continues its upward trajectory.

Strong Breakout Fueled by Positive Volume

Hedera’s price action comes after a prolonged accumulation phase and a strong breakout backed by rising volume. The price previously faced a parabolic downtrend characterized by lower highs and lows before stabilizing. This extended consolidation period showed signs of growing buying interest, eventually leading to the breakout.

Crypto analyst Javon Marks noted, 

“$HBAR (Hedera), on massive positive volume, delivered an outstanding bullish performance, climbing over 840% from its post-breakout lows to just under the ≈$0.504 target.” 

Marks also stated that an additional +69% upside could take HBAR to its projected target, indicating further room for growth.

Source: X

Technical Indicators Reflect Continued Market Strength

The technical indicators suggest a balance of consolidation and potential for upward movement. The price remains above the 20-day moving average, which serves as support, showing buyers are still in control. Bollinger Bands indicate rising volatility, with the price stabilizing near $0.30 after its recent move.

The MACD indicator shows the blue line slightly below the orange signal line, hinting at slowing short-term momentum. A decline in the green histogram bars further supports this. However, the MACD lines remain close, which could allow for a quick shift back to bullish conditions if buying pressure resumes.

Source: TradingView

The Relative Strength Index (RSI) sits at 61.42, reflecting bullish momentum without entering the overbought zone. This level suggests there is still room for the price to move upward before hitting any major resistance.

Market Data Shows Rising Participation

Data from Coinglass reveals increased market activity for Hedera. Trading volume grew by 103.72% to $1.47 billion, while open interest climbed 4.65% to $326.10 million. The rise in open interest suggests that more positions are being opened as traders anticipate continued price movement.

The combination of rising volume and growing open interest indicates increasing confidence in HBAR’s ability to sustain its upward trend.

Key Price Levels to Watch

HBAR’s price is consolidating near $0.30, reflecting equilibrium between buyers and sellers. If the upward momentum continues, the next price target is expected near $0.38 to $0.40, based on previous highs. On the downside, support lies near $0.26, aligning with the lower Bollinger Band.

With growing trading activity and technical strength, HBAR remains in focus as market interest continues to build.

FAQs

What is driving Hedera’s recent price surge?

The recent price rise is fueled by a 68% increase in trading volume, signaling heightened market interest and strong bullish potential.

What are the key technical indicators for Hedera’s price movement?

Hedera’s price is above the 20-day moving average, with rising volatility shown by Bollinger Bands, and the RSI at 61.42 indicating room for upward movement.

What are the key price levels to watch for Hedera (HBAR)?

Key resistance is at $0.38 to $0.40, while support is near $0.26, indicating potential price fluctuations within this range.