HBAR Price Explodes After ETF Filing, 50% Rally Loading?
The post HBAR Price Explodes After ETF Filing, 50% Rally Loading? appeared on BitcoinEthereumNews.com.
Despite massive price drops across the crypto market, HBAR, the native token of Hedera, is making waves with its impressive price performance. Today, March 4, 2025, the asset has soared over 10% in the past 24 hours and is currently trading near $0.24, seemingly reclaiming its crucial support level of $0.25. Why is HBAR Price Rising? The potential reason behind HBAR’s impressive price rally is the recent Spot Exchange-Traded Fund (ETF) filing by the asset management giant Grayscale. Additionally, Nasdaq assisted the asset manager with the filing process. HBAR Sees $12 Million in Exchange Outflows With the filing, investors and long-term holders have shown strong interest, as reported by the on-chain analytics firm Coinglass. Data from the spot inflow/outflow revealed that exchanges have witnessed an outflow of over $12 million worth of HBAR in the past 24 hours. This substantial outflow from exchanges has the potential to create buying pressure and fuel an upside rally, which explains today’s HBAR gains. Source: Coinglass In addition to investors’ bullish outlook, intraday traders seem strongly positioned on the bullish side. Major Liquidation Levels At press time, the major liquidation levels are at $0.22 on the lower side and $0.246 on the upper side, with traders over-leveraged at these levels. Data further revealed that traders betting on the bullish side have built $7.50 million worth of long positions at the $0.22 level, whereas $3.85 million in short positions have been placed at the $0.246 level. Source: Coinglass These liquidation levels and over-leveraged positions by traders show that bulls are currently dominating and could support the asset’s upcoming upside momentum. HBAR Price Action and Upcoming Level With today’s gain, HBAR seems to be regaining its crucial support level of $0.25, which it lost during the recent price decline. According to expert technical analysis, HBAR is…
Filed under: News - @ March 4, 2025 8:25 pm