Hedera’s HBAR Momentum Has Just Begun, Analyst Says

Hedera Hashgraph (HBAR) has been one of the best-performing cryptocurrencies on Friday, November 15, with its price rising to $0.0767, marking its highest level since July 17. This surge represents a 66% increase from its lowest point earlier this month. The momentum surrounding HBAR has drawn the attention of crypto analysts, with some forecasting even more significant price gains in the coming weeks.

Bullish Outlook for HBAR

A well-known crypto analyst, Maverick, shared his bullish view on Hedera Hashgraph in a post on X, where he has over 145,000 followers. Maverick believes that HBAR’s recent climb is just the beginning, and he is targeting a potential surge to the year-to-date high of $0.1813—a 182% increase from the current level.

Maverick highlights two key catalysts that could propel Hedera Hashgraph’s price higher:

1. Increased Trading Volume: Hedera’s rising trading volume signals increased market interest, which could drive the price even higher.
2. Spot ETF Application: The recent application of a spot Bitcoin ETF by Canary Capital could provide additional momentum, with speculation that a future SEC approval under Donald Trump’s administration might create positive sentiment around the asset class, benefiting HBAR as well.

Additionally, futures open interest for Hedera has been in a strong uptrend, rising to $66.7 million from $26.6 million in September. This increase in futures activity indicates strong demand for HBAR and supports the analyst’s bullish outlook.

Challenges and Concerns

Despite its bullish technicals and growing attention, Hedera Hashgraph faces challenges:

• Ecosystem Size: While Hedera has some heavyweight corporate backing—its governance council includes major companies such as Ubisoft, Dell, Boeing, Google, and Deutsche Bank—its ecosystem remains relatively small. For instance, the DeFi total value locked (TVL) on Hedera is only $44 million, which is significantly lower than newer blockchains like Sui and Base.
• DEX Activity: Hedera’s decentralized exchanges (DEX) in its ecosystem only handled $35.4 million worth of tokens in the past seven days, making it the 32nd biggest chain in the industry by DEX activity.

Despite these challenges, Hedera’s growing volume and bullish market signals suggest that it could continue to gain traction.

Technical Analysis: HBAR Price Could Hit $0.1 Soon

On the technical front, HBAR’s price has shown notable recovery after forming a double-bottom pattern at the key support level of $0.045. This pattern is generally considered a strong bullish signal, and HBAR’s rise above $0.063 (the neckline of the pattern) has further confirmed the uptrend. Additionally, HBAR has surged above both the 50-day and 200-day moving averages, signaling that the path of least resistance is upward.

With the next psychological resistance level at $0.10 (about 45% above the current price), there is potential for continued upward momentum. The stop-loss level for this trade would be $0.055, providing a solid risk-reward ratio for traders looking to capitalize on the bullish setup.

Hedera Hashgraph (HBAR) is currently enjoying strong momentum, with technical indicators suggesting a potential rise to $0.1 in the near future. While the project faces challenges related to the size of its ecosystem, the increasing trading volume, strong institutional support, and favorable technical patterns provide a solid foundation for future price growth. Analysts are optimistic, and if the bullish trend continues, HBAR could see further gains as it moves towards the $0.10 psychological level and potentially higher.