Hedera (HBAR) Poised for $0.30 Breakout Amidst ETF Hype and Bullish Technicals Hedera (HBAR) is currently witnessing a surge in market momentum, driven by the anticipation of "ETF season" and a confluence of favorable technical patterns. The cryptocurrency's price action suggests a potential significant upward movement, capturing the attention of investors and analysts alike.
Technical Analysis Flags Upside Potential
Since its September low near $0.205, HBAR has charted a series of constructive patterns indicative of a bullish reversal. These include an Elliott Wave advance, a discernible double bottom formation, and a 10-week descending wedge—a classic indicator often preceding a breakout. Analysts interpret recent price consolidation as Wave 2 within an Elliott Wave cycle, following a robust 140% rally from late June to late July. A breakout into Wave 3, typically the most impulsive phase, could propel HBAR towards its year-to-date high of $0.3065, with potential to challenge the $0.40 mark if market breadth improves. Crucially, a sustained move above the $0.23-$0.24 range is eyed as the gateway to the $0.30 level.
ETF Catalysts and Enterprise Utility Fueling Growth
The burgeoning "ETF season" is providing significant macro tailwinds, with the SEC expected to rule on several crypto ETF applications in the coming months. Hedera, which has been under review for a spot ETF since 2024, stands to gain substantial investor access within the U.S. market should these approvals materialize. Beyond regulatory developments, Hedera's strong reputation within the enterprise sector—supported by a credible governing council and involvement in real-world finance initiatives such as SWIFT panels and public-sector pilots—reinforces positive sentiment, attracting institutions seeking scalable and cost-efficient settlement solutions. Market internals also reflect this optimism, with a rising Chaikin Money Flow indicating steady net inflows. A decisive break above the $0.24-$0.248 range could trigger a significant short squeeze, pushing the price higher.
Key Price Levels to Watch
For the immediate future, $0.205 remains a critical invalidation level. A daily close below this point would negate the current bullish momentum, potentially leading to a retreat towards $0.198. However, with optimistic ETF news and strong market flows, the prevailing upside bias for HBAR throughout October appears firmly intact.
