HBAR Coin: Latest Developments Driving Hedera's Price Up

Bittime - HBAR Coin is back in the spotlight after experiencing a significant surge in price. While most digital asset markets are experiencing a correction, Hedera HBAR has maintained its upward trend with an increase of more than 27% in the last 24 hours.

This increase raises the question, what factors are driving HBAR bullish amid market weakness?

HBAR's Rise Amid Weakening Crypto Market

In recent days, HBAR Coin has shown impressive performance by staying in the green zone. At the time of writing, Hedera HBAR was trading in the range of $0.235, after successfully passing the resistance level that had previously been a barrier to its rise.

Read also: XRP Price Prediction March 3, 2025: Trends and Scenarios Today

This bullish push is in line with the breakout above the 50-day moving average, which often signals the potential for further gains if supported by high trading volume. If this trend continues, HBAR can target the $0.25 level as the next resistance.

Source: TradingView

However, if this momentum fails to be sustained, the price will most likely retest the support level around $0.22, which is a key level in determining HBAR's short-term trend.

On-Chain Volume Increases Drastically

One of the main factors driving the surge in the price of HBAR is the significant increase in trading volume. 

The latest data from Santiment shows that HBAR volume has jumped past 681.2 million, reflecting increased trading activity from investors.

Source: Santiment

This surge in volume indicates greater market interest in Hedera HBAR, which could strengthen the bullish trend in the short term. 

If the volume remains high, it is likely that HBAR can maintain its momentum and continue to move upwards.

Read also: Prediction of Bitcoin Price Today March 3

Open Interest and Liquidity Increase

In addition to the increased trading volume, the Open Interest (OI) metric also shows a bullish signal for HBAR Coin. 

Open Interest refers to the number of open derivative contracts in the market, which reflects liquidity and speculative interest in a digital asset.

Currently, HBAR's Open Interest has surged to $163 million, indicating that more and more traders are taking positions in this asset. If Open Interest continues to increase as prices rise, this could be an indication that the bullish trend is still continuing.

However, if Open Interest starts to decline while prices remain high, this could signal weakening momentum and the potential for a correction in the near future.

Will HBAR Coin Maintain its Bullish Trend?

HBAR's success in maintaining its rise amid a market correction is quite an impressive achievement. The main factors contributing to this price surge include increased trading volume, strong on-chain activity, and increased Open Interest.

If the bullish sentiment continues, it is not impossible that HBAR will reach $0.25 as the next target. However, it is important for traders to pay attention to volume and Open Interest going forward, as changes in these metrics can be early signs of trend reversals.

In addition, maintaining support above $0.22 will be a crucial factor in determining whether this price movement has long-term durability or is just a temporary spike before a correction.

Conclusion

HBAR Coin is currently one of the best performing digital assets in unfavorable market conditions. With increasing trading volume and high speculative interest, HBAR has the potential to continue to move up as long as momentum is maintained.

However, as with other digital assets, volatility remains a factor to watch out for. Therefore, it is always important to keep up to date and analyze market metrics before making investment decisions.

FAQ

What has caused the price of HBAR Coin to rise recently?

The price of HBAR Coin has risen due to increased trading volume, bullish market sentiment, and growing interest from institutional investors and developers using the Hedera network.

Does HBAR Coin still have potential for further upside?

Yes, if the positive momentum continues and HBAR is able to break through key resistance levels, then this digital asset has the potential to reach higher prices in the short to medium term.

Where can I buy and trade HBAR Coin?

HBAR Coin is available on various leading digital asset exchanges such as Binance, KuCoin, and Coinbase, with main trading pairs such as HBAR/USDT and HBAR/BTC.

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Reference

ambcrypto, Hedera [HBAR] defies market trend – All you need to know about altcoin's 27% hike!, accessed March 3, 2025.

Author: AWW