After months of decline that left HBAR investors red, cryptocurrency shows signs of a potential recovery.
HBAR has begun to break out of the downtrend as recent updates show a shift in investor sentiment. A key factor contributing to this transformation is the addition of HBAR to Grayscale’s smart contract fund.
Hbar will be participating in the big leagues
The Chaikin Money Flow (CMF) indicator has recently highlighted a significant increase in HBAR inflows, indicating a shift in market sentiment. This surge is largely attributed to positive news surrounding the addition of HBAR to Grayscale’s smart contract funds.
Funds that include major cryptocurrencies such as Ethereum (Eth), Solana (Sol), Cardano (ADA), SUI (SUI) and Avalanche (Avax) currently account for 5.89% of their total holdings. Investors want to take advantage of this, driving a sharp increase in HBAR trading volume and inflows.
This new investor interest reflects the growing optimism surrounding HBAR. When Altcoin joins other top tier assets in Grayscale’s portfolio, its market visibility is significantly increased.
Looking at the momentum of the broader macros, technical indicators such as moving average convergence divergence (MACD) suggest a shift towards bullish sentiment. The MACD shows a continuous bullish crossover. This usually indicates an increase in purchasing momentum.
With the current upward momentum, HBAR could continue to push higher, break past resistance levels and build on recent positive developments. The strengthening of MACD further supports the possibility of sustained bullish behavior, indicating that HBAR could recover from previous losses and gain further status in the coming weeks.
HBAR Prices Free itself
Currently priced at $0.161, the HBAR is just below the main resistance level of $0.163. While facing this resistance, HBAR has already managed to clear more important hurdles. It will be released from the two-month downward trend that has hindered recovery efforts.
Given the strong support from recent market events, HBAR has secured its base at $0.163 and is gradually exceeding $0.172. From there, the price could potentially reach $0.180, further strengthening the bullish outlook.
However, there is a risk that premature sales by investors could derail this potential recovery. If profit acquisitions become too aggressive, HBAR’s $0.154 support level could be under pressure, potentially reducing to $0.145 or $0.139. Such a decline negates bullish papers and suggests a potential continuation of the altcoin struggle.
With Post HBAR added to the Grayscale Fund, Price Break first appeared in Beincrypto.
