Why HBAR Price Is Going Up Today: HEDERA Price Prediction

HBAR Price Jumps on Robinhood Listing, ETF Hopes, and Market Buzz

The HBAR price has surged more than 13% in the last 24 hours and for a good reason. A huge announcement on July 25 by Robinhood, a trading platform, revealed that Hedera (HBAR) has been officially listed for U.S. users. 

This news coupled with ETF frenzy and solid technical indicators gave it the boost it needed. Let's dissect what's actually happening and why everyone is suddenly interested in this altcoin once more.

Robinhood Listing Provides Significant Boost

Robinhood's U.S. listing is the single largest explanation for the recent surge in the HBAR price. With over 20 million active accounts, Robinhood is one of the simplest places to purchase crypto without needing a wallet or additional steps.

Source: Robinhood

This follows after Hedera was listed on Robinhood in Europe last January. Immediately following the U.S. listing, it shot up 13% within a day to $0.28. Trading volume also jumped by 61%, which demonstrates how many individuals flocked in to capture the token.

Breaking Up Resistance Levels Triggered More Buying

On charts, the crypto not only increased, it broke above a strong resistance level at $0.26, which caught many traders' attention. 

This level was also within a very important Fibonacci level, and when it broke through it, it initiated more buying, particularly from algorithmic trading robots. 

• The price also broke above its 50-day moving average of $0.20, another indication of strength. 

• The RSI (Relative Strength Index) is approximately 63, so it's not overly overbought at this point there is still room to advance.

ETF Hopes Are Heating Up

People are also excited because of ETF rumors. Firms like Canary Capital have filed for an HBAR ETF, and Bloomberg’s Eric Balchunas says there’s a 90% chance of it being approved. That’s a big deal. If it happens, it could open the door for large investors and bring a ton of money into HEDERA coin, just like we’ve seen with Bitcoin ETFs in the past.

Thrive Partnership Adds Long-Term Value

Aside from the price spike, Hedera also revealed a new collaboration with Thrive Protocol. The two are collaborating to increase adoption in use cases such as DeFi, AI, and real-world assets. 

Thrive is providing funding and mentorship to assist emerging projects in getting started on Hedera's network. 

HBAR Price Prediction

HBAR Price Prediction, although the price of Hedera coin is currently higher, a couple of things to pay attention to remain. It is now trading at $0.2662.

Source: CoinMarketCap

• Bullish Case: The next major test will be the $0.30 level. If it can surpass it, it may target $0.50.

• Bearish Case: In case the price drops below $0.22, the risk of it dropping back to $0.18 remains.

On the trading front, open interest is higher by 6%, with more individuals betting on Hedera crypto. However, funding rates have declined slightly, and therefore short-term momentum could decelerate marginally. 

Final Thoughts

The surge in this altcoin is not random; it's supported by good news, good charts, and increased investor appetite.

With the Robinhood listing, ETF hype, and actual partnerships such as Thrive in the mix, it is attracting both individual traders and larger players. It's early days yet, but the future for Hedera is looking fairly thrilling.