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HBAR Surges 10% Amidst Grayscale ETF Filing and Bullish Traders

Coin WorldTuesday, Mar 4, 2025 8:59 am ET
1min read

HBAR, the native token of Hedera, has been making waves in the crypto market despite the recent price drops. On March 4, 2025, HBAR soared over 10% in the past 24 hours and is currently trading near $0.24, reclaiming its crucial support level of $0.25.

The potential reason behind HBAR’s impressive price rally is the recent Spot Exchange-Traded Fund (ETF) filing by the asset management giant Grayscale, with assistance from Nasdaq. This filing has sparked strong interest from investors and long-term holders, as reported by on-chain analytics firm Coinglass.

Data from spot inflow/outflow revealed that exchanges have witnessed an outflow of over $12 million worth of HBAR in the past 24 hours. This substantial outflow from exchanges has the potential to create buying pressure and fuel an upside rally, which explains today’s HBAR gains.

In addition to investors’ bullish outlook, intraday traders seem strongly positioned on the bullish side. At press time, the major liquidation levels are at $0.22 on the lower side and $0.246 on the upper side, with traders over-leveraged at these levels. Data further revealed that traders betting on the bullish side have built $7.50 million worth of long positions at the $0.22 level, whereas $3.85 million in short positions have been placed at the $0.246 level.

These liquidation levels and over-leveraged positions by traders show that bulls are currently dominating and could support the asset’s upcoming upside momentum. With today’s gain, HBAR seems to be regaining its crucial support level of $0.25, which it lost during the recent price decline. According to expert technical analysis, HBAR is reclaiming this key level. Based on recent price action and historical momentum, if the asset successfully reclaims the $0.25 level, there is a strong possibility it could soar by 50% to reach $0.38 in the coming days.

Despite ongoing market uncertainty, HBAR has maintained itself above the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that the asset is in an uptrend.

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makeammends
03/04
$COIN OMG this stock is driving me crazy 🤣 to the moon
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rvnmsn
03/04
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destroyman26
03/04
$COIN will this hurt cause this was really painful
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Turbonik1
03/04
HBAR above 200 EMA, uptrend confirmed.
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Sam__93__
03/04
@Turbonik1 Uptrend confirmed, but watch for fakeouts.
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AP9384629344432
03/04
$HBAR surge reminds me of $TSLA in 2020.
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FTCommoner
03/04
@AP9384629344432 Do you think HBAR can moon like TSLA did?
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BloodForThCursedIdol
03/04
Hodling HBAR long-term, expecting a 50% pump.
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ReindeerApart5536
03/04
@BloodForThCursedIdol How long you planning to hodl HBAR? Thinking of a specific target or just riding the wave?
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LurkerMcLurkington
03/04
Grayscale's move could push HBAR to the moon. 🚀
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Shinoskay9
03/04
Bulls dominating, but watch for market flips.
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