Despite the SEC's delayed approval of the HBAR ETF, Hedera continues to exhibit remarkable strength. Increased capital inflows and bullish technical indicators boost investor confidence, indicating the token's readiness to sustain its upward momentum.
Although the Securities and Exchange Commission (SEC) has once again delayed its decision on the HBAR ETF proposed by Canary Capital, HBAR’s price shows remarkable resilience. The altcoin has climbed 4% in recent days, as investor anticipation fueled sustained demand.
Analysis of the Chaikin Money Flow (CMF) on the 12-hour chart highlights a strong influx of capital into Hedera. This trend indicates that investors remain confident in HBAR’s potential, despite regulatory uncertainty related to the delayed ETF approval. Their conviction appears to play a crucial role in price stability. The continuous inflow of funds suggests belief in the asset’s long-term growth potential.
The Moving Average Convergence Divergence (MACD) also displays encouraging signs, with its first bullish crossover in more than six weeks. This technical signal underscores renewed optimism for Hedera and suggests an emerging bullish trend, supported by investor demand.
While the broader cryptocurrency market remains cautious, HBAR stands out by building independent momentum separate from the general sentiment. Support from dedicated holders continues to play an essential role, helping the token preserve its gains despite delayed regulatory decisions.
At the time of writing, HBAR is trading at $0.227, up 3.5% over the past 24 hours. The altcoin is currently testing a resistance zone at $0.230, after bouncing from a solid support at $0.219.
If the bullish momentum maintains, HBAR could break through the $0.230 threshold, paving the way for advancement toward $0.245 in the short term. Sustained buying pressure would be crucial to validate this movement and further strengthen investor sentiment.
Conversely, failure to surpass $0.230 could trigger a correction, with a possible return to $0.219 or even lower support levels at $0.213, invalidating the bullish outlook. Despite the SEC’s new delay in approving the HBAR ETF, Hedera’s token is managing to appreciate thanks to capital inflows and encouraging technical signals. Investors seem to maintain their confidence in HBAR’s long-term potential, which could favor a continuation of the bullish trend.
HBAR could explode in the coming months as stablecoins experience massive adoption. Don’t miss this buying opportunity.
Here’s a buying guide for Pionex:
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