- HBAR forms a bull flag pattern, signaling potential breakout toward $0.40.
- Trading volume surged 54%, with a long-short ratio favoring bullish sentiment.
- SEC delays Canary Capital’s HBAR ETF decision, setting new deadline for November 8.
Hedera Hashgraph’s token HBAR is drawing investor attention once again. The digital asset has managed to hold steady during volatile sessions, building momentum for a potential move higher. Trading is on the rise daily, and there is growing optimism that we may see an explosive breakout soon. Analysts believe the technical picture is coming together for a bullish push that can generate almost an 80% gain.
HBAR Shows Signs of Building Pressure
HBAR currently trades near $0.21 , where traders see a base forming. An analyst who focuses on daily charts recently mentions a bull flag, which is a continuation pattern considered upside and usually means higher prices to come. A wedge is illustrated in the chart with the highs and lows converging, signifying consolidation before a decisive movement. The setup includes six pivot points, alternating between peaks and troughs, as buyers and sellers wrestle for control.
The earlier sharp rally forms the “flagpole,” reinforcing expectations of another surge once resistance breaks. A clean breakout could lift HBAR toward $0.40, nearly doubling the current value. For now, consolidation dominates. However, trading volume tells a different story. Activity has jumped by 54%, hitting $186 million in daily transactions.
That surge reveals growing trader confidence in a sustained rally. Market sentiment strengthens further when analyzing Coinglass data. The long-short ratio sits at 1.55, a clear signal of bullish positioning. A majority of traders expect HBAR to climb, giving the token strong support against downward pressure.
Institutional traders also appear active. Data from September 7 showed a dramatic spike in afternoon trades. Volume surged to 67.40 million units, more than double the 24-hour average of 27.33 million. Buyers stepped in around $0.22, offering liquidity that helped stabilize prices after a brief slip.
SEC Delays HBAR ETF Decision Again
Despite market excitement, regulatory clouds linger. The U.S. Securities and Exchange Commission delayed a decision on the Canary Capital HBAR ETF once more. The extension pushes the review deadline to November 8. The proposal, first filed by Nasdaq in February, has already faced two prior delays. Regulators extended the review in April and June, requesting additional feedback on the fund.
Analysts suggest the SEC may be holding back approvals until broader ETF listing standards are updated. The delay briefly dampened sentiment, but traders shrugged it off. The volume recovery implies that investors are becoming increasingly interested in Hedera as a long-term opportunity. With the fundamentals aligning, HBAR has a positive outlook ahead.
Technical strength, rising volumes, and institutional interest are paving the way for a breakout. If there is a confirmed move above resistance, it could signal the beginning of the bull run many analysts expect. For investors, HBAR now appears to be a token to keep a close eye on over the weeks ahead.
