The Hedera (HBAR) token is stealing the spotlight this week with a stunning 50% surge, outpacing most top 20 altcoins. Currently trading at $0.239, HBAR’s market cap has reclaimed $10 billion for the first time since March. The rally comes as Bloomberg analysts peg 90% odds for a spot HBAR ETF approval—sending bullish sentiment to 7-month highs.
Technical Breakout: Double Bottom Signals More Gains
HBAR’s daily chart shows a classic double-bottom (W) pattern, historically a powerful reversal signal. Key takeaways:
✅ Breakout level: $0.228 (recently surpassed)
✅ Price target: $0.40 (71% upside from current levels)
✅ Indicators agree:
- Awesome Oscillator (AO)Â flashing green
- 20-day EMAÂ poised to cross above 200-day EMA
- Weekly chart confirms bullish continuation
“This is textbook technicals meeting fundamentals,” says CoinGape analyst Mark Johnson. “The ETF narrative could propel HBAR beyond $0.40 faster than many expect.”
Why the ETF Hype Matters
- 90% approval odds (per Bloomberg’s Seyffart)
- Would be first altcoin ETF after Bitcoin/ETH
- Institutional inflows could mirror Bitcoin’s ETF boom
Social media buzz has tripled since March, with traders speculating:
“An HBAR ETF would be massive—this is still early.” — @CryptoStacker
What’s Next for HBAR?
Bullish Scenario:
- Hold above $0.23 support
- Rally to $0.40+ on ETF confirmation
- Potential altcoin leadership if BTC stabilizes
Risks to Watch:
- Profit-taking near ATHs
- Delayed ETF decision could cool momentum
Final Thought
With strong technicals, ETF tailwinds, and growing social momentum, HBAR’s 50% surge might just be the opening act. As one trader put it:
“HBAR isn’t just riding the altcoin wave—it’s making its own.”
