Hedera Hashgraph (HBAR), an enterprise-focused public distributed ledger technology project, surged past the $0.09 resistance level. Data from CoinGecko show that HBAR now aims for the $0.10 threshold, but must first overcome the key resistance cluster between $0.096 and $0.098. Technical analysts observing Elliott Wave patterns suggest a potential push towards $0.108 in the short term if momentum sustains.
Technical signals and price structure
In broader time frames, HBAR continues to record higher lows. Technical analyst Javon Marks has highlighted this development on the three-day chart, noting it as a strong indicator for future growth. Looking at historical patterns, Marks identifies the possibility of a significant price increase, mentioning an upside potential toward the $0.504 region.
Based on the higher lows structure, some estimates consider a theoretical upside of 350% if bullish momentum persists. However, analysts caution that HBAR’s future trajectory largely depends on whether trading volume can sustain its recent gains.
Volume surge across spot and derivatives markets
HBAR saw a notable surge in activity across both spot and derivatives markets. Spot market volume climbed to $252.51 million, a significant jump from the previous day’s roughly $151 million. On the futures side, trading action intensified, with volume soaring 40.88% to $369.87 million in the past 24 hours, as reported by CoinGlass.
On Binance, the world’s largest cryptocurrency exchange by volume, traders showed a strong bias toward bullish positions. The bull versus bear ratio reached 3.73, indicating a majority expecting further price increases.
| Market | Previous Volume | Current Volume | Change (%) |
|---|---|---|---|
| Spot | $151 million | $252.51 million | +67% |
| Futures | – | $369.87 million | +40.88% |
In contrast, the overall long versus short position ratio remained relatively low at 0.8423, suggesting that while bullish wagers exist, a considerable number of traders still expect downward price movement. Short sellers accounted for $628,260 of the total $783,830 in liquidations. Open Interest rose 7% to $165.44 million, reflecting growing participation in leveraged positions.
Hedera Hashgraph positions itself as a high-throughput, energy-efficient network aimed at enterprise use cases, offering fast transaction finality and low fees compared to traditional blockchain platforms.
Mini dictionary: Open Interest (OI), represents the total value of outstanding derivative contracts—such as futures or options—that have not been settled. Rising open interest typically suggests heightened activity and increased market participation.
Potential targets and historical perspective
For HBAR to realize the technical targets highlighted by Javon Marks, the current price trajectory would require an approximate 80% rally. This move would bring the token close to its all-time high of $0.56, reached on September 16, 2021.
Since the recent cycle low of $0.035, HBAR has climbed 157.13%, according to historical pricing data. However, the currency is now displaying overbought signals, which could introduce volatility if buying pressure subsides.
Technical analysis points to an “80% rally needed to approach the all-time high of $0.56, with HBAR having already advanced 157% from its cycle low.”
