- HBAR gains 24% and breaks key resistance with strong technical confirmation.
- Hedera TVL spikes 24%, signaling rising DeFi activity and liquidity on-chain.
- Bullish structure forms as price holds above 200 EMA and $0.23.
Today, HBAR has gained more than 24% overcoming major resistance price levels with strong momentum. According to the TradingView chart, the price closed at $0.245 with the intraday high at $0.251. This action was characterized by an increase in volume and confirmed by on-chain metrics (the TVL and stablecoin cap). The token turned the 20, 50, and 200-day exponential moving averages into support. It also stayed above the VWAP level at $0.231 following the strong trend.
HBAR Breaks Out as Signals Turn Bullish
MACD indicator has also printed a bullish crossover. The MACD line is now higher than the signal line, the first time in many weeks. This is a confirmation of increasing bullish momentum. The RSI went as high as 84, which indicated overbought conditions. In strong uptrends, though, this high value of the RSI will remain the same for a couple of days. The Stochastic RSI has hit 100, showing that there is short-term exhaustion but not reversal.
This is one technical breakout that came after a long downtrend reversal at the support level of $0.14. The price structure is currently displaying higher highs and higher lows. HBAR is well above the price of 200 EMA, which corresponds to $0.209. As long as it is above this figure, it can be predicted that the trend might have changed to a long-term bullish trend. The other resistance is at $0.30. This towards $0.30 could be confirmed by a daily close above $0.25.
Also Read | Hedera Rally Gains Steam: Will HBAR Smash $0.29 Resistance?
Traders have now become keen on a continuation or a retest of the VWAP level. The structure benefits the bulls provided HBAR stays above $0.23. Momentum is strong, but the overbought signs mean that there can be short pauses or sideways consolidation.
Stablecoin Inflows and Hedera TVL Contribute To HBAR Rally
Another factor supporting this price rally is a significant increase in Hedera on-chain metrics. DeFiLlama data reported that TVL on the network increased by 24.04% during the last 24 hours. Today, TVL provided by Hedera is currently at $119.73 million. This is the peak in recent months. The rise in TVL implies that the number of assets actively deployed in Hedera-based protocols is rising.
The Hedera stablecoin cap also rose to $151.57 million. This is a good indicator of an increase in on-chain liquidity. The DEX daily volume is worth $15.86 million, and app fees were $26,050. There were also chain revenue fees of $1,965. These figures indicate increasing utilization and usage in the Hedera DeFi ecosystem.
Fundamentals Support HBAR Rally
The increasing inflow of capital on-chain suggests that the rally is sustainable. HBAR market cap currently stands at over $10.2 billion, and has a fully diluted value of $12.08 billion. The technicals and the fundamentals are at a convergence. This enhances the possibility of a continuing rally.
Traders seeking profitable opportunities could take positions once the price remains stable above $0.25. Any rejection within such an area would pause the move, though this current structure is bullish.
Also Read | Hedera (HBAR) Builds Momentum With $0.4 Bullish Target Ahead
