HBAR price jumps 12.22% as open interest rises by $230 million
Main Idea
HBAR's price surged 12.22% to $0.2746, supported by a $230 million rise in open interest and a bullish golden cross technical indicator, with key support at $0.267 and resistance at $0.314.
Key Points
1. HBAR's price increased by 12.22% to $0.2746 in 24 hours, with open interest rising by $230 million in a week.
2. A golden cross (50-day EMA crossing above 200-day EMA) signals a potential bullish reversal for HBAR.
3. Key support level is at $0.267, with resistance at $0.314; a breakout above resistance could target $0.375.
4. Funding rates turned positive as long positions grew, indicating rising market confidence.
5. A drop below $0.267 could lead to a decline to $0.241, negating the bullish setup.
Description
Hedera’s native token HBAR is gaining significant traction as both price and market interest surge. Over the past 24 hours, HBAR has recorded a 12.22% price jump to $0.2746, with derivatives market activity echoing the rise. Traders have ramped up their positions aggressively, leading to a $230 million increase in open interest within just one
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