HBAR Surges 30% on ETP Launch, Eyes Further Gains

Generated by AI AgentCoin World
Tuesday, Jul 22, 2025 3:23 am ET1min read
HBAR
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Aime RobotAime Summary

- HBAR surged 30% after breaking a double bottom pattern, reaching $0.299 on July 18.

- Current consolidation near $0.267 remains above key support at $0.253, with $0.333 as the measured target.

- RSI at 73 shows overbought conditions and bearish divergence, signaling potential short-term pullback.

- Valour's ETP launch and SEC's extended ETF review deadline to September could drive further buying pressure.

- Upcoming mainnet upgrade on July 23 aims to enhance network reliability without altering tokenomics.

HBAR, the native token of the Hedera network, has experienced a significant surge, rising by approximately 30% from its recent breakout point. This rally was driven by a breakout from a double bottom pattern, with the price breaching the neckline at $0.229 and reaching a peak of $0.299 on July 18. This peak tested the prior high from early May, indicating strong bullish momentum.

However, the recent price action has shown signs of consolidation, with

HBAR
currently trading around $0.267. This consolidation is occurring above newly established local support at $0.253. The measured move target from the double bottom pattern, calculated by adding the depth of the pattern to the neckline, is $0.333. This target remains unmet, suggesting potential for further upside once the consolidation phase is complete.

Despite the bullish price action, the Relative Strength Index (RSI) is currently in overbought territory at 73 and has started to turn lower. This has formed a bearish divergence, as the price made a higher high while the RSI posted a slightly lower high. This divergence suggests waning bullish momentum and the possibility of a short-term pullback or extended consolidation before any further upward movement.

On the downside, major support lies at $0.229, the former double bottom neckline. If the price of HBAR breaks below the $0.253 local support, which has held during the current consolidation, $0.229 will likely contain any further pullbacks.

The recent rally in HBAR was catalyzed by the launch of the Valour Hedera Physical Staking ETP on the SIX Swiss Exchange. This launch provided investors with regulated access to HBAR and its staking rewards, driving significant buying pressure.

Looking ahead, the U.S. Securities and Exchange Commission is currently reviewing a proposed Hedera ETF by Canary Capital, intended for listing on Nasdaq. The agency recently extended the decision deadline to September. If approved, the ETF could trigger significant buying pressure, potentially driving HBAR’s price higher. Analysts view this scenario as likely.

Additionally, Hedera is set to upgrade its mainnet to version 0.63 on July 23. This upgrade will introduce performance optimizations and backend improvements, although it is not expected to impact HBAR’s tokenomics or utility. The update may reinforce confidence in the network’s reliability, further supporting the price of HBAR.