Crypto Market Observer: HBAR Token Breakthrough Predicted? ETFS Excitement and Resistance Markers Analyzed
HBAR, the native token of the Hedera Hashgraph network, is currently trading around $0.147, following a 13% price dip over the last week, resulting in a -19.56% weekly drop as of June 19, 2025.
The cryptocurrency is testing a key resistance level, but it hasn't closed above it yet. Two significant resistance levels to watch for HBAR include those lined up with important volume and Fibonacci points, at $0.193 and $0.20. Breaking these could signal a rally, with support at $0.182.
From a technical perspective, HBAR is consolidating with no clear trend direction on the 1-day chart, but the 4-hour chart is showing light bullish pressure. However, HBAR is trading within a descending channel, which could limit its upside potential unless a strong breakout occurs.
The Securities and Exchange Commission (SEC) has delayed its decision on the Canary HBAR ETF until June 2025. The Canary HBAR ETF, if approved, could potentially increase HBAR's price. ETF filings by Grayscale and Canary Capital could potentially drive a breakout for HBAR, targeting $0.193-$0.60.
Further analyses suggest that HBAR could go above $2.25 due to potential ETF approval, Hedera being listed on Coinbase futures, and over $40 million in new investments. A strong breakout with higher volume could signal a short-term bullish move for HBAR.
Cryptocurrencies, including HBAR, are inherently volatile, and a failure to break resistance levels could lead to a pullback. The SEC's delays on ETF approvals introduce uncertainty and could dampen investor enthusiasm.
It's worth noting that other altcoins, like Pi Network, have outperformed HBAR despite ETF hype, highlighting the competitive nature of the market. A 125% jump in HBAR's trading volume was observed after Nasdaq filed with the U.S. SEC to list the Canary HBAR ETF.
As of now, Fidelity and Canary are the companies preparing to receive SEC approval for HBAR ETFs in the US market. The HBAR ETF is already listed on the DTCC platform, awaiting final SEC authorization expected by November 14, 2025.
Some experts predict the HBAR crypto price could reach $0.60 or higher if the upward momentum continues. Key resistance levels for the HBAR crypto price are at $0.193 and $0.20; breaking these could signal a rally.
In conclusion, the HBAR price movement is closely tied to the decision of the SEC on the Canary HBAR ETF, the consolidation of HBAR within a descending channel, and the potential breakout driven by ETF filings and other factors. Investors should closely monitor these developments for potential opportunities and risks.
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