
HBAR Price Surges 50% Weekly: ETF Approval Drives Rally
HBAR Price Surges 50% Weekly as ETF Approval Odds Drive Market Rally
Key Highlights
HBAR price has increased 50% in one week amid surge in buying pressure and broader crypto market recovery. The rising odds of a spot HBAR ETF approval have driven bullish sentiment to its highest level in seven months. Technical analysis reveals a double bottom pattern signaling that a 71% rally to $0.40 might be imminent.
Current HBAR Price Performance
Hedera HBAR has recorded more gains than most other top 20 altcoins following a 50% increase in the last seven days. HBAR price is trading at $0.239 today, July 14, while its market cap has surged to its highest level in more than four months at above $10 billion. These gains come amid ongoing speculation about the SEC approving a spot HBAR ETF, which has led to bullish sentiment reaching its highest level in 2025.
Technical Analysis: HBAR Price Targets $0.40
Double Bottom Pattern Formation
The HBAR token has created a W pattern, also known as a double bottom, on its one-day chart, which usually appears when a shift in trend is about to happen. The token's movements within this pattern confirm a bullish price prediction by suggesting that bulls are about to control the market as sellers leave.
The possibility of this trend change becomes more likely following the movement of the price to the resistance level of $0.228. The Hedera token needs to close above this resistance level to confirm the pattern, potentially triggering a 71% increase to $0.392.
Supporting Technical Indicators
The AO bars are rising on the positive side to support the bullish bias as positive momentum grows stronger. The upcoming crossover between the 20-day and 200-day EMA also shows that the short-term bullish trend is strengthening compared to the long-term trend, indicating additional gains might happen.
Recent analysis identified a bullish pattern on the one-week chart for the Hedera token, which indicates that a move past $0.40 is very likely.
ETF Approval Odds Drive Bullish Sentiment
90% Approval Probability
Earlier this month, Bloomberg analyst James Seyffart revealed that there were 90% odds that US regulators are going to approve a spot HBAR ETF. The market appears to be responding to this development now as more attention goes towards this product due to the ongoing gains in Hedera price and the broader cryptocurrency market.
Rising Market Sentiment
The HBAR ETF news and the 50% gains in the last week have led to the rise in market sentiment to the highest level since early December, indicating that there are many positive discussions happening around the token. This can lead to high buying pressure that may drive more HBAR price gains.
The social volumes have also increased to March levels, showing that more people are talking about the HBAR token and its price movements, which could also be a driver for its price growth.
HBAR Price Outlook and Analysis
The ongoing gains and increased discussions about a spot HBAR ETF getting approval make it likely that the uptrend might not be over, and more gains could occur. The rising bullish sentiment might also contribute to more buying pressure that will drive the upward price rally.
Technical patterns combined with fundamental developments suggest that HBAR price could continue its upward trajectory. The double bottom formation provides a strong technical foundation for the predicted move to $0.40, representing a significant profit opportunity for investors.
Frequently Asked Questions
Can HBAR price continue to rally and reach $0.40?
Based on current technical analysis and the double bottom pattern formation, HBAR price shows strong potential to reach $0.40. The 71% rally target is supported by multiple technical indicators and increased market sentiment.
Will the SEC approve a spot HBAR ETF?
Bloomberg analyst James Seyffart indicated 90% odds for spot HBAR ETF approval by US regulators. This high probability has significantly contributed to the current bullish sentiment and price surge.
Why is the bullish sentiment around HBAR token rising?
Bullish sentiment is rising due to the combination of strong technical patterns, ETF approval speculation, 50% weekly gains, and increased social volume discussions. Market sentiment has reached its highest level since early December.
Conclusion
HBAR price performance demonstrates strong bullish momentum backed by both technical and fundamental factors. The potential ETF approval, combined with favorable chart patterns, positions HBAR for continued growth. Investors should monitor the $0.228 resistance level for confirmation of the predicted rally to $0.40.