- Traders and analysts predict an 86% price breakout for HBAR, supported by bullish technical indicators, notably a falling wedge pattern.
- Additionally, a spot ETF approval would unlock substantial institutional investment, which could significantly boost HBAR’s price.
Hedera’s native token has drawn significant attention as traders and analysts alike anticipate a market price breakout. Positive technical indicators support this hypothesis.
Notably, technical indicators suggest that HBAR has bottomed out and is currently forming a falling wedge pattern on the daily timeframe, a classic bullish breakout signal.
Additionally, another significant catalysts for HBAR’s anticipated surge is the potential approval of a spot HBAR exchange-traded fund (ETF).
With this already in place, analysts predict that the aforementioned factors could largely lead to an 85.85% surge in the near future.
At the time of press, HBAR is swapping hands with $0.1921 amounting to an 81.98% surge in the past year.
Positive Technical Indicators Point to Break Out
Q4 of 2024 saw HBAR’s price undergo high volatility. In this period, the digital asset recorded a whooping 850% surge which was later followed by a sharp decline to the $0.04. However the drop, the token showcased great resilience, rebounding impressively to the $0.37.
Currently, HBAR is bound for a potential upward price movement that has been hinted by the formation of a falling wedge pattern.
With this in place, analysts are highly optimistic that HBAR could undergo a potential breakout soon.
Adding onto the bullish sentiment, other fundamental factors further HBAR’s growth potential. Notably On the DeFi front, the token’s total value locked (TVL) has skyrocketed to $121.7 million, marking a staggering 132% growth on SaucerSwap.
Additionally, the token has facilitated over $132 million in weekly DEX volume.
The Potential of HBAR Spot ETFs
Another fundamental factor that could play a huge role in HBAR’s anticipated surge is the potential approval of a spot HBAR ETF by the U.S. Securities and Exchange Commission. As indicated in our earlier report, American Asset manager giant Grayscale Investment filed for a 19b-4 form with the United States SEC to list a Hedera ETF.
Notably, this filing was made via Nasdaq Stock Market LLC. If approved, this ETF could unlock over $40 million in institutional inflows, significantly boosting HBAR’s liquidity and market stability.
Moreover, Hedera Hashgraph stands out as the only blockchain project registered with the International Monetary Fund (IMF). Notably, its ETF filing has not faced postponements, unlike several other crypto-based ETFs.
The project’s strong regulatory positioning, combined with its unique carbon-neutral consensus mechanism and fair transaction ordering, makes HBAR an attractive investment for both retail and institutional players.
Adding on to institutional adoption, the global financial messaging giant SWIFT is set to begin testing Hedera (HBAR) in 2025. With over 11,000 financial institutions connected, SWIFT processes trillions in transactions daily, and its adoption of distributed ledger technology (DLT) could accelerate crypto’s mainstream acceptance and in this case lead to HBAR’s exposure.