Hedera Hashgraph HBAR Surges 54% in Stablecoin Market, Eyes $0.30 Breakout

Andrew Chen
Hedera Hashgraph (HBAR)

Getting your Trinity Audio player ready...
  • HBAR stablecoin market cap jumps 54% to $86.41M in one week.
  • Ascending triangle pattern signals potential breakout toward $0.30.
  • Derivatives market shows caution, with weak bullish sentiment.

Hedera Hashgraph (HBAR) is capturing investor attention as its stablecoin market cap skyrocketed 54% within a single week. The surge highlights growing interest in the Hedera ecosystem and hints at potential bullish momentum for the token. At present, HBAR trades at $0.2536, with a 24-hour trading volume of $739.23 million and a market capitalization of $9.04 billion, reflecting steady market activity despite minor daily fluctuations.

Stablecoin Market Cap Drives Investor Interest

Crypto analyst STEPH IS CRYPTO highlighted the rapid expansion in Hedera’s stablecoin market, which reached $86.41 million this week. This notable growth signals increased adoption and engagement within the Hedera ecosystem, reinforcing the network’s relevance in the broader cryptocurrency market. Investors are interpreting this surge as a positive indicator for HBAR’s short-term price dynamics.

Technical Indicators Suggest Bullish Potential

Prominent chart analyst Jireon noted that HBAR appears to be forming an ascending triangle pattern, a classic bullish signal. Should this formation hold, the next strong 4-hour candle could propel HBAR toward a target of $0.30. Conversely, failure to defend critical support around $0.23 could trigger a short-term downturn, emphasizing the importance of monitoring key price levels to preserve upward momentum.

Also Read: Hedera [HBAR] Price Analysis: $0.22 Dip Likely Before Next Bullish Move

HBAR Derivatives Market Shows Caution

The HBAR derivatives market is cooling off, with trading volume declining 8.70% to $742.75 million and open interest down 4.56% to $436.56 million. A slight positive OI-weighted funding rate of 0.0052% indicates weak bullish sentiment, suggesting that traders are cautiously awaiting more decisive market trends before committing. The subdued derivatives activity points to a market in wait-and-see mode, with potential momentum reversals hinging on upcoming sessions.

With a booming stablecoin market and promising technical setups, Hedera Hashgraph (HBAR) stands at a pivotal moment. Investors will be closely watching whether key support levels hold, potentially unlocking a bullish breakout toward $0.30. The coming sessions will be critical in determining whether HBAR can sustain upward momentum or face short-term pullbacks.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses

Related Posts