Hedera (HBAR) is showing renewed bullish momentum as buyers regain control after a recovery for the HBAR price from recent lows. ETF inflows are adding further institutional support, while sustained demand and improving market sentiment could strengthen the token’s outlook and keep higher resistance levels firmly in focus.
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At the time of writing, HBAR is trading at $0.07393 with a 24-hour trading volume of $36.74 million and a market capitalization of $3.24 billion. Despite the signs of stability, the HBAR price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: HBAR Price Eyes $0.39 Breakout as Double-Bottom Signals Bullish Reversal
HBAR Price Eyes $0.12 as Bulls Regain Momentum
According to the crypto analyst Hov, the HBAR price has shown signs of recovery after rebounding from a recent low, with its short-term structure suggesting that buyers may be regaining control.
The latest move appears impulsive, while the lower-timeframe decline has developed as a three-wave correction, supporting the possibility of further upside if key support continues to hold.
Source: Hov’s X Post
The short-term emphasis will be on the ability of the HBAR price to hold above its surrounding support level since any breach below the new low will negate the bullish formation.
In the event of further consolidation by the buyers, the next major resistance area will be around $0.12. The wave formation towards this level will be an indicator of where HBAR will trade next.
HBAR Gains Attention With Fresh ETF Inflows
The data from BSCN further highlighted that the spot HBAR ETF by Canary Capital started off the week with another surge in investor interest and brought in around $399,000 worth of new money on Monday.
While the inflows in the last few days have been fairly small, the HBAR ETF has proved quite resilient, suffering just one net-outflow day so far.
It is estimated that the holdings in the ETF amount to about 1.7% of the total supply of HBAR. Accumulation of these ETFs may lead to a reduction in the supply available for trading and increase the institutional value of the HBAR token, especially if the accumulation is supported by positive market sentiment.
Despite the bullish price predictions and network growth, the HBAR price is moving in a neutral trajectory. However, the general trend in the crypto market has turned cautious as the BTC price has started to move downward.
What Happens Next?
The future for the HBAR price will be determined by the ability of buyers to consolidate the gain and hold onto the important support levels.
The ongoing flow of institutional funds into the HBAR market may boost the momentum and drive the coin up to important resistance levels, with the $0.12 price being an important upside target.
Also Read: HBAR Price Eyes $0.097 and $0.123 Targets After Major Trend Reversal
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
