Hedera’s native token HBAR is gaining significant traction as both price and market interest surge.
Over the past 24 hours, HBAR has recorded a 12.22% price jump to $0.2746, with derivatives market activity echoing the rise.
Traders have ramped up their positions aggressively, leading to a $230 million increase in open interest within just one week.
At the same time, technical indicators such as a golden cross between the 50-day and 200-day exponential moving averages suggest the token may have entered a new bullish cycle.
With strong support at $0.267 and a resistance level of $0.314 in sight, HBAR appears to be navigating a critical period of momentum shift.
$230 million rise in open interest shows rising market confidence
HBAR’s open interest surged from $296 million to $526 million in the last seven days, reflecting a 77 percent increase.
This sudden uptick in exposure indicates a wave of optimism among traders.
The derivatives market, which typically offers early signals of sentiment shifts, shows a clear preference for long positions, as funding rates remain positive.
This implies that buyers are willing to pay a premium to maintain their positions, further validating the current bullish bias in the market.
The influx of capital into HBAR derivatives suggests that participants are positioning for a potential breakout.
Such moves often precede price rallies, especially when backed by strong technical indicators and healthy support levels.
Technical reversal confirmed by golden cross
The rally is not just fuelled by market sentiment. Technical analysis confirms that HBAR may have broken out of its bearish cycle.
A golden cross— a bullish signal where the 50-day exponential moving average moves above the 200-day EMA— has just been recorded.
This crossover marks the end of a prolonged downtrend signified earlier by a death cross, and it often signals the beginning of a sustainable uptrend.
This pattern has historically attracted long-term investors who use moving averages to determine entry and exit points.
As a result, the golden cross further supports the narrative of a shift in market momentum, potentially pushing HBAR’s price further in the coming days.
Support holds at $0.267 with $0.375 in sight
HBAR’s ability to hold above the $0.267 level will be crucial for sustaining its recent gains. This level now acts as a strong support zone, offering stability for ongoing accumulation.
If HBAR can maintain this floor, the next test lies at the $0.314 resistance level. A successful breakout above this level could bring the $0.375 target within reach.
However, traders must remain cautious. If a wave of profit-taking emerges, the altcoin could slide back toward $0.267.
A breakdown below this support level would risk a decline to $0.241, which would negate the bullish setup and indicate the rally was short-lived.
Longs dominate as rally gains strength
The dominance of long contracts over short ones highlights continued optimism in the HBAR market. Funding rates, which turn positive when long positions outnumber shorts, have been steadily climbing.
This creates a favourable environment for continued upward price movement, provided external market conditions remain stable.
Moreover, this bullish sentiment coincides with broader improvements in altcoin markets, where investors are increasingly rotating funds into tokens with strong technicals and fundamentals.
For HBAR, the alignment of rising open interest, technical confirmation, and strong support levels creates a setup that many traders interpret as primed for further growth— though not without downside risks if momentum stalls.
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