Hedera (HBAR) has been showing a slow recovery since the beginning of the month, with its prices showing signs of stabilization.
However, recent news surrounding applications for the HBAR ETF in Delaware could provide the boost needed for potential rebounds.
HBAR traders have hope
Traders were actively responding to reports of Grayscale applications to the HBAR ETF, signaling Altcoin’s optimism about the future. This excitement is reflected in the market’s funding rate, which has surged sharply over the past 24 hours.
The funding rate has reached a three-week high, indicating a long contract surge as traders become increasingly confident in price increases. This sharp spike shows that HBAR traders are optimistic and want to take advantage of what they consider bullish opportunities.
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Looking at technical indicators, HBAR’s moving average convergence divergence (MACD) shows a promising sign. MACD is approaching a potential bullish crossover, which could indicate a change in momentum from bearish to bullish.
The histogram reflects a declining bearish trend, indicating a decline in downward pressure. A successful bullish crossover could confirm this shift and encourage further purchases.
HBAR prices face resistance
HBAR is currently changing its hands at just $0.26, a resistance level of $0.27. HBAR will need to move beyond $0.27 to $0.29 to recover losses from July.
News surrounding Grayscale ETF filing could help to maintain this momentum as it encourages further investment and increases prices. As a result, HBAR prices could potentially reach $0.30 or more.
However, if investors’ feelings change or changes occur in the broader market, HBAR may face pullbacks. If Altcoin cannot hold above $0.27, it could drop below $0.24. Such a decline negates bullish outlook and signals further periods of integration or decline.
Delaware HBARETF post-grayscale file: price recovery first? It first appeared in Beincrypto.
