HBAR price could surge 90% as taker buy dominance rises, with strong technical patterns and institutional support fueling bullish momentum.
Hedera (HBAR) has shown a price surge in recent days, sparking optimism among investors.
Analysts predict that HBAR could increase by as much as 90% if it breaks above key resistance levels. Taker buys and rising Open Interest are pushing HBAR into bullish territory, suggesting that the asset could see further gains in the near future.
Taker Buy Dominance Drives Strong Demand for HBAR
Taker buys have been dominating HBAR’s market activity, signaling strong buyer conviction. A high number of aggressive market orders favor the buy side, which could support price growth
As more participants place buy orders, the demand for HBAR increases, making a rise in price more likely.
Additionally, market sentiment has improved with the launch of the Canary HBAR ETF. This new investment option has attracted institutional investors, which boosts overall confidence in Hedera. The approval of the ETF is seen as a key development for HBAR’s future, providing more mainstream access to the token.
This growing institutional interest is evident in the increase in Open Interest. As of recent data, Open Interest has risen by 11.12% to $146.30 million. This growth in leveraged positions supports the idea that more traders expect the price to rise, adding further strength to HBAR’s bullish outlook.
Cup and Handle Pattern Shows Potential for Further Gains
On the technical side, HBAR is forming a cup and handle pattern on the 1-day chart. This pattern typically indicates a continuation of the current upward trend, making it a positive signal for traders. If HBAR breaks above the $0.201 neckline, the next targets could be $0.233, $0.260, and even $0.400.
The cup and handle pattern suggests that there has been accumulation at lower price levels. Additionally, a breakout from this structure would signal strong upward momentum. As HBAR’s price continues to hold steady above $0.20, a breakout could trigger a significant rally.
Moreover, the Directional Movement Index (DMI) further supports this bullish view. The +DI is above the -DI, indicating that the trend is strengthening. This suggests that HBAR is in a favorable position to continue rising in the short term.
Institutional Involvement and ETF Launch Strengthen Bullish Outlook
The approval of the Canary HBAR ETF has increased interest from institutional investors. This development provides more avenues for larger funds to gain exposure to Hedera, which adds credibility to the token
Institutional involvement typically signals longer-term price stability and higher demand.
Increased Open Interest, alongside ETF approval, creates a strong foundation for future price growth. More traders are placing long positions, betting on continued upward momentum. This suggests a growing consensus that HBAR is positioned for a breakout.
Overall, HBAR’s price continues to show signs of strength. Technical patterns, strong market demand, and institutional support all point to a possible surge. If these trends hold, HBAR could see a significant price increase, reaching the analyst’s 90% target in the coming weeks.
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