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binancecoin
BNB (BINANCECOIN)
$1,095 -3.81%
solana
Solana (SOLANA)
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pepe
Pepe (PEPE)
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bonk
Bonk (BONK)
$0.000014 -4.55%
bitcoin
Bitcoin (BITCOIN)
$112,875 -1.29%
ethereum
Ethereum (ETHEREUM)
$3,971 -3.74%
binancecoin
BNB (BINANCECOIN)
$1,095 -3.81%
solana
Solana (SOLANA)
$192.82 -2.74%
ripple
XRP (RIPPLE)
$2.58 -1.69%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000010 -3.57%
pepe
Pepe (PEPE)
$0.000007 -3.32%
bonk
Bonk (BONK)
$0.000014 -4.55%
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Hedera Price Prediction: Why HBAR Could Rally to $0.30 Soon

Highlights:

  • Hedera is gaining upside momentum intraday
  • Rally driven by approval of Canary Capital’s HBAR ETF
  • ETF could trigger a wave of institutional capital flow into HBAR 

Hedera (HBAR) is among the top altcoins recording double-digit gains today. In the last 24 hours, HBAR has gained by 16.86% to trade at $0.211. At the same time, Hedera trading volumes are going parabolic intraday. When writing, Hedera trading volumes stood at $854.88 million, up by 336.85%. 

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Such a strong surge in trading volumes in a short time points to rising FOMO around HBAR. It also means that the current 16% gains in 24 hours are only the beginning. HBAR is likely headed to much higher prices going into the future. A confluence of bullish factors around it supports a possible parabolic price rally for HBAR. 

SEC Approves Hedera ETF, Triggering Price Rally

One of the primary factors driving HBAR’s momentum is the fact that the SEC has approved its ETF. The latest news hitting the market is that the Canary Capital ETF is set to go live on the Nasdaq or the NYSE anytime this week. Canary Capital managed to go around the ongoing government shutdown by making use of a modified filing with the SEC. The modified filing allows for an automatic approval after 20 days.

The approval of the HBAR ETF is likely to send the price higher for a couple of reasons.  The first one is the potential inflow of institutional capital. ETFs give institutions an easy avenue to get in and out of cryptocurrency at any time. This explains why billions of dollars have gone into Bitcoin and Ethereum ETFs since they were launched.

Hedera is about to get similar listing benefits and could see an influx of capital from pension funds and other major institutions. The result is that the new demand could push the price to new highs going into the future. 

Legitimacy Boost Could Trigger Institutional Capital Flow

The listing also gives Hedera a boost of legitimacy in an increasingly crowded market. With thousands of cryptocurrencies launching every day, capital is increasingly getting concentrated in a few high-quality altcoins. Hedera is among the best of these altcoins in terms of its use case.

However, now that it has an ETF, legitimacy is set to go much higher. Hedera could increasingly benefit from both institutional and retail money looking for high-quality altcoins as part of a diversified cryptocurrency portfolio. The result is that Hedera could attract more capital long-term. More organizations could also start building on Hedera, further deepening its intrinsic value.

Possible US-China Trade Deal Could Send Hedera to New Highs

Outside of the excitement around the ETF, Hedera is set to benefit from an increasingly pro-cryptocurrency macro environment. There is increased optimism in the markets that the US and China will soon arrive at a sustainable trade deal.

Donald Trump himself hinted at it, and from the reaction in the financial markets so far, the odds favor a deal. Since cryptocurrencies historically outperform stocks, the odds are high that a deal confirmation could send them to new highs. For Hedera, which is already in the middle of positive ETF news, such a move could mean a rally to new highs in the short term.

Technical Analysis – HBAR In Minor Correction After Intraday Pump

After a strong pump earlier in the day, Hedera is now in a minor price correction. This is indicative of profit-taking after a close to 20% in less than 24 hours. This price action has also seen Hedera establish strong resistance at $0.219. If bulls regain control and push Hedera through the $0.219 resistance, then a rally to $0.30 could follow.

HBAR
Source: TradingView

On the other hand, if the correction continues, Hedera could drop to the $0.194 support in the short term. Of these two scenarios, a continuation of bullish momentum through the $0.219 resistance is more likely. That’s because the broader market is turning green, and Hedera now has an ETF.

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