Hedera's HBAR Token Surges 17.07% Amid SEC ETF Decision Delay
1min read Hedera's hbar token has seen a significant surge in price, rising by 17.07% over the past week, reaching $0.19358. This upward trend has drawn considerable attention from traders, despite ongoing regulatory uncertainties. The recent price increase has been supported by key technical indicators, such as the Bollinger Band Trend (BBTrend), which has climbed sharply to 6.83, indicating a strong directional trend. However, the Relative Strength Index (RSI) has moved into overbought territory at 73.93, suggesting that a short-term price correction may be imminent.
The Securities and Exchange Commission (SEC) has announced a delay in its decision on Canary Capital’s proposed Hedera ETF, pushing the evaluation to June 10. This delay is not uncommon and reflects the cautious regulatory stance on cryptocurrency investment vehicles. The extended review phase presents both challenges and opportunities for HBAR, as ETF approval could bring institutional capital and added legitimacy to the token. In the meantime, traders and investors are navigating volatility driven by market momentum and speculative interest.
The current price of HBAR is testing a significant resistance level at $0.20. A decisive breakout above this level could pave the way for further gains, with potential targets at $0.227 and $0.258. However, if resistance holds and sellers regain control, downside risk will escalate, with immediate support at $0.179. The bullish configuration of exponential moving averages (EMAs) provides additional support for a potential breakout, but the outcome remains uncertain.
As the market awaits the SEC's decision on the Hedera ETF, the regulatory news adds a fundamental aspect to what has primarily been a technically driven rally for HBAR. Approval of the ETF could bring considerable institutional investment, while more delays or a rejection could reduce enthusiasm. In the short term, price action and momentum indicators will likely dictate HBAR's movements, with traders split between excitement and caution amid the mixed news. Regardless, HBAR's recent performance has put the token at the center of attention, indicating a potential turning point for Hedera and its ecosystem if it sustains gains and secures regulatory approval.
Ask Aime: "Is HBAR's surge a short-term correction?"
