Hedera Price Jumps as HBAR ETF, Futures Demand Rises

Hedera price extended its September rally as HBAR approached levels last seen in January. CoinMarketCap showed the token near $0.1175, up about 20% over 24 hours, after the latest advance pushed it above $0.12.

The move coincided with continued creations in the Canary HBAR ETF and a sharp increase in derivatives activity. However, neither ETF flows nor higher futures open interest establishes that the rally will continue.

Hedera Price Jumps as HBAR ETF Inflows Rise

HBAR token has rebounded in the past few weeks, mirroring the performance of Bitcoin and other altcoins. Bitcoin rose from a low of $57,800 in July to a high of $87,000 this month. Also, the market capitalization of all coins rose to over $2.87 trillion.

Hedera token rally has coincided with the ongoing ETF accumulation. The Canary HBAR ETF (HBR) has had inflows in all months since October last year. It has added over $3,8 million this month after adding $2.57 million a month earlier.

In total, the fund has had cumulative inflows of over $111.6 million and now holds assets worth over $98 million. These inflows suggest that HBAR’s demand is rising, which is a bullish sign.

The same trend is happening in the spot market. Hedera’s volume in the spot market jumped by 845% in the last 24 hours to over $1.37 billion. That is a sign that its demand has continued rising as the Crypto Fear and Greed Index has remained in the green zone.

HBAR’s demand in the futures market is rising. The open interest rose to over $280 million, its highest level since October last year, and much higher than the July low of $82 million.

Futures open interest is an important figure that looks at the open positions in the market. A higher figure is a sign that demand and liquidity are rising.

Hedera’s Fundamentals are Improving

HBAR’s token is rising as its fundamentals continue improving. One of the fundamentals is the fact that members of the governance council were named as part of Nvidia’s Open Agent Safety Platform. Some of these members are companies such as IBM and ServiceNow.

Hedera has made some moves in the AI space. For example, it recently launched a platform to provide independent ordering and timestamps, which can anchor tamper-evident commitments, while protecting sensitive data onchain.

More data shows that Hedera’s network is improving. For example, the total value locked (TVL) in its network rose to $47.2 million, its highest level since June this year. It has rebounded from the August low of $15 million, a sign that demand continues to rise.

Still, the network faces some major challenges, including in the stablecoin industry. Data shows that the stablecoin market capitalization has dropped to $27 million from a record high of over $210 million.

HBAR Price Prediction: Technical Analysis

The daily chart shows that the HBAR token has rebounded in the past few weeks. It bottomed out at $0.064, its lowest level in July and August, where it formed a double-bottom pattern.

Hedera has continued making several higher highs and higher lows, with investors buying every dip. It has jumped above the important resistance level of $0.1095, its highest level on May 30th.

The token has remained above the Supertrend indicator and the 100-day Exponential Moving Average (EMA). Also, the Average Directional Index (ADX) has jumped to 48, a sign that the uptrend is continuing.

Therefore, the most likely HBAR forecast is bullish, with the next target being the psychological level of $0.1500. A drop below the psychological level of $0.10 will invalidate the bullish forecast.

This article is for informational purposes only and does not constitute financial or investment advice. Technical targets and market scenarios remain conditional.