Hedera Rally Accelerates After Vanguard Launches First HBAR ETF
Hedera (HBAR) recovered from recent selling pressure on Tuesday, rising 6.5%. This occurred as institutional dip-buying helped Bitcoin soar above $90,000. After Vanguard confirmed the launch of its first HBAR ETF, the rally gained even more momentum. This indicates confidence in Hedera’s long-term network development and provides new access to the token for investors worldwide.
HBAR Rises as Spot Purchases Outpace Futures Trading
Last month, Canary Capital approved the Vanguard HBAR ETF listing. This has already generated $59.32 million in net assets on the NASDAQ and $80.26 million in cumulative net inflows. Direct spot purchases, not speculative futures, were the main driver of Hedera’s price increase on Tuesday. Futures volumes dropped 16%, while open interest increased by just 3.5%. Traders continue to exercise caution and use little leverage in the face of persistent cryptocurrency volatility. They are emphasizing that long-term accumulation is preferred to short-term speculative trades.
Falling Wedge Pattern Caps HBAR Price Since Early 2024
Since early 2024, price action has been capped by a falling wedge. HBAR is consolidating while trading above $0.14. Important resistance levels are still at $0.294 and $0.305, creating a double-top pattern that needs to be broken for a big bullish move. An exit from the wedge and a route toward the $0.30 target would be indicated by a successful close above $0.2287. On the other hand, HBAR might retest the lower $0.08 trendline if the $0.12 support is not maintained. As investors wait for the next significant breakout, volatility may stay high with the RSI close to 34.7 and over one-third of holders currently underwater.
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