HBAR ETF Hope Spurs Bullish Surge Despite Stablecoin Struggles
hedera (HBAR) could rally soon thanks to an upcoming ETF. But its stablecoins are shaky.
HBAR traded at $0.24 on Sunday. That’s down 22% from this year’s peak but up 88% from the year low.
A spot HBAR ETF, due for SEC review by Nov. 8, is driving optimism. As a U.S.-based,high-liquidity crypto with over $10 billion market cap,HBAR has solid ETF chances. If approved, launch could be swift given DTCC listing.
However, HBAR faces risks from fluctuating stablecoin supplies. DeFi Llama data shows a sharp decline to $69 million from $149 million recently. Unclear reasons behind this volatility exist but point to possible entity interference.
- HBAR set for major price move amid ETF hopes.
- Stablecoin supply instability poses challenges.
- Bullish technicals suggest gains to $0.3041.
Technically, HBAR looks promising. A double-bottom pattern formed near $0.1260, followed by a retest of support. It’s forming a bullish flag and entering the second phase of an Elliott Wave, pointing to upward momentum.
The price outlook is bullish. A potential $0.3041 target looms as activists await ETF developments.
