HBAR aims for a 1.471% increase amid ETF hype

Recent forecasts for HBAR prices indicate a bullish trend may be forthcoming, provided current technical signals unfold as expected. This momentum follows the official listing of cryptocurrency ETFs by the DTCC platform, including Hedera's HBAR ETF, Canary's XRP ETF, and Fidelity's Solana ETF. At the time of writing, HBAR is trading around 0.24 USD, having formed solid support at 0.21 USD. Over the past 24 hours, Hedera's native token price has increased by 1.5%.

On-chain derivatives indicators are also supporting the bullish trend, as the funding rate increasingly favors long positions, reinforcing expectations for short-term price increases.

HBAR targets 3.3 USD in the upcoming rally

According to analysts from EgragCrypto, HBAR is preparing for a strong bullish move, potentially pushing the price up to 3.3 USD. The current chart shows a clear pattern of repeating cycles, with consolidation phases followed by significant breakouts.

Source: EgragCrypto/ XHBAR has just completed a prolonged adjustment phase and is currently breaking out of the bullish channel, reflecting the trend before the spike in 2021. In the previous cycle, HBAR increased by over 1,300% after breaking out, reaching the cycle peak. The current wave structure, according to Elliott wave analysis, shows the potential extension of the primary wave 5, coinciding with Fibonacci levels, reinforcing the strong bullish outlook.

The important resistance levels are still at 0.1 USD and 0.12 USD. However, once these levels are broken, the path towards higher valuations will be quickly opened. The peak cycle area on the chart indicates that the level of 3.3 USD is not only feasible but also has a high probability if the bullish trend continues.

Along with the strong convergence of technical signals and historical patterns, HBAR seems to be ready to enter the next growth phase.

Trader expert Sjuul also noted strong bullish momentum after HBAR broke above the downtrend line. He emphasized the "Power of 3" model ( indicating three critical phases that form a complete structure in classic trends ), suggesting that this token may be entering an expansion phase. This model often leads to sustainable bullish trends if support levels are maintained.

Source: Sjuul/ XCurrently, the main support area is creating a solid platform for buyers, reinforcing confidence in the bullish trend. If HBAR maintains above this level, the token could aim for the short-term resistance area around 0.3 USD. Successfully breaking this threshold will further strengthen the bullish trend and open up opportunities for longer upward movements.

Positive funding rate reinforces bullish outlook for HBAR

In addition to strong technical signals, the current market sentiment is also supporting the bullish trend of HBAR. The open trading volume remains high, indicating that investors are actively positioning for the next upward trend.

Notably, the funding rate remains positive, reflecting that Long positions are dominating over Short positions. This indicates that traders are willing to pay a premium to hold Long orders, demonstrating confidence in the bullish outlook for the token.

As a result, the demand for HBAR continues to increase, facilitating the token's advancement to higher price levels in the short term.

Source: Coinglass## The excitement around HBAR ETF

The HBAR ETF fund of Canary has just been listed on the Depository Trust & Clearing Corporation (DTCC), marking an important step towards the launch of the product.

The qualification for participating in DTCC is primarily administrative, indicating that the ETF is ready to perform settlement and clearing once approved. However, this does not mean that trading will start immediately, as the product still needs to receive official approval from the U.S. Securities and Exchange Commission (SEC).

Until then, the listing on the DTCC should be seen as a preparatory step rather than a direct confirmation. Nevertheless, this milestone reflects the increasing convergence of technical, blockchain, and organizational factors, reinforcing the bullish outlook for HBAR in the near future.

Annie