Key Points
- Hedera’s HBAR is up about 1%, trading above $0.22.
- The token could rise further as Grayscale files for a spot HBAR ETF with the SEC.
Grayscale Files for an HBAR ETF
The crypto market has been bullish in recent days, with Bitcoin reaching the $113k range and Hyperliquid’s HYPE hitting a new all-time high. Hedera’s HBAR has participated in the rally, gaining more than 3% over the past seven days.
HBAR may see additional upside amid growing speculation around ETFs. Digital asset manager Grayscale has filed S-3 registration documents for exchange-traded funds tied to Bitcoin Cash and Hedera (HBAR). If approved, these funds would be added to Grayscale’s existing crypto ETFs, which already include spot Bitcoin and Ether products launched last year.
Hedera has established itself as a notable blockchain in the crypto space and recently became a hub for real-world asset (RWA) projects. Its native token, HBAR, ranks as the 18th largest cryptocurrency by market capitalization, approaching $10 billion. Approval of a spot HBAR ETF could trigger substantial gains and potentially push the token to a new all-time high for the first time in four years.
HBAR Eyes $0.27 amid Strong Technicals
The 4-hour HBAR/USD chart shows a bullish and orderly trend, supported by the ongoing market rally. Technical indicators are strong, signaling that HBAR could be positioned for a breakout.
An RSI reading near 63 indicates bullish momentum, while MACD lines are converging in positive territory. If the uptrend persists, HBAR may first test resistance at $0.245 before attempting to challenge the August high around $0.27.
On the other hand, failure to maintain momentum could push HBAR back toward the $0.22 low and potentially retest weekend support near $0.21046. Nevertheless, the broader market trend remains bullish, and HBAR could continue reaching higher levels in the coming days and weeks.