Analyst sees HBAR hitting $1.09 soon, with whale activity and trading volume backing the move.
The price of Hedera (HBAR) has jumped by over 92% in the last 30 days, making it one of the top-performing cryptocurrencies in July. The broader crypto market has also turned bullish during this period, largely due to Bitcoin reaching above $119,000 for a short stretch.
HBAR’s growth is attributed to ongoing institutional activity. Institutional giants such as Fidelity and BlackRock introduced representative tokens on the Hedera network, rebuilding investor confidence. This has pushed market capitalization in HBAR above $12 billion, a position it hadn’t attained since January last year.
This comes as several legislative developments last week have led to renewed investor interest across the market. This shift has created favorable conditions for altcoins, with HBAR standing out as one of the more active beneficiaries.
The price is holding just above $0.26. Previous resistance around $0.20 and $0.176 now appears to be acting as support. If the current trend holds, HBAR could approach $0.54, nearing its 2021 high of $0.5701.
The daily trade volume has reached over $849.88 million, indicating a 13% gain in the last 24 hours. Also, wallet action indicates increasing confidence. From October 2024, there has been a consistent rise in the number of wallets with 1 million to 10 million coins. Larger investors with over 10 million HBAR coins have also been consistent in their support for the token’s longer-term move.
Analyst “Steph is Crypto” identified a resemblance between the current chart and a previous period when HBAR climbed by over 850%. Using a 2-week chart, he compared today’s stoch RSI levels and overall setup to that earlier rise, indicating a repeat structure.
$HBAR has plenty of room for growth..Millionaires will be made in the next 3-4 weeks!
Steph projects that the coin may reach a price target near $1.09 over the next three to four weeks. If HBAR hits even part of that target, it would break above $0.50 for the first time since 2021. His prediction is based on similarities in technical indicators between previous and current price patterns.
At the same time, the overall outlook for crypto in 2025 has improved. The GENIUS Act and other crypto-supportive legislation have given the sector a boost. Bitcoin’s rise pulled many altcoins higher as well. HBAR is well-placed to gain from this broader uptrend, especially as interest from both institutional and individual investors continues to grow.
If current support levels hold and trading volumes remain high, Hedera could realistically reach its previous all-time high of $0.5701 before the end of August. That would mark a full recovery from its multi-year downtrend and possibly signal the start of a new upward phase.
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