CryptoPM

$HBAR

Hedera (HBAR) surged 16% in 24h due to a technical breakout, bullish altcoin rotation, and ecosystem growth tied to enterprise adoption.

Technical breakout above $0.20 resistance with strong volume

Launch of Salt trading app on Hedera in South Korea

Altcoin momentum as Bitcoin dominance dips

Deep Dive

1. Primary catalyst

HBAR broke its 4-month descending trendline on July 12, triggering a technical rally. The price reclaimed the critical $0.15–$0.16 support zone , with RSI (73.1) and MACD histogram (+0.0059) confirming bullish momentum. This technical reset attracted short-term traders, with spot volume surging 29% to $1.13B.

2. Supporting factors

Salt app launch: Hedera’s new South Korean mobile trading platform went live July 11, targeting 169M users in Southeast Asia

RWA traction: Hedera ranked # 3 in Messari’s RWA crypto list, with stablecoin market cap up 91.7% QoQ

Institutional interest: Grayscale updated its HBAR trust holdings, while 21Shares launched a Europe-listed ETP.

3. Technical context

HBAR’s 7-day RSI (86.66) signals overbought conditions, but the price holds above Fibonacci support at $0.167 (50% level).

The next resistance sits at $0.23 (127.2% extension), a zone that triggered profit-taking in Q1 2025. Derivatives data shows rising open interest (+6% to $271M), suggesting leveraged bets on continued upside.

Conclusion

HBAR’s rally combines technical momentum with real-world adoption catalysts, though overbought signals warrant caution.

Will altcoin rotation sustain if Bitcoin retests $125K?

#HBAR #Macro Insights# #Altcoin Season#