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HBAR coils for a breakout as Grayscale files Hedera Trust registration
HBAR is signaling a possible upside breakout after compressing into a bullish continuation pattern, supported by recent news that Grayscale registered a Hedera Trust ETF. Traders watching Hedera (HBAR) noted that a decisive move above the pennant’s resistance could send price toward the next key levels.
Technical snapshot: double bottom, pennant and moving averages
After clearing a double bottom base with a neckline near $0.23, Hedera rallied, peaking around $0.30 on two separate attempts but failing to close above that resistance. A pullback followed, retracing toward the breakout zone; importantly, price found support at the $0.23 level and did not invalidate the setup.
Since then, HBAR price action has tightened into a bullish pennant — a continuation formation that frequently precedes another upward leg within strong trends. The narrowing range reflects short-term indecision while the broader trend remains constructive: the EMA 20 has crossed above the SMA 50, reinforcing bullish momentum. Volume behavior also aligns with a classic pennant structure: trading volume contracted after the pullback and is now beginning to pick up as price tests the pennant’s upper boundary.
Key technical levels and measured target
- Support (neckline): $0.23
- Immediate resistance: $0.30
- Measured breakout target: roughly $0.37 (based on the pole height); some market participants are eyeing an extended target near $0.40 if momentum accelerates
Today’s daily candle is probing the pennant’s upper trendline and on-chain and exchange data show a roughly 30% rise in trading volume over the last 24 hours — evidence that a breakout could be imminent as the converging trendlines approach their apex. If HBAR climbs and closes convincingly above the pennant resistance with expanding volume, the technical projection points to the $0.37 area, with the possibility of continued strength toward $0.40 in an aggressive scenario.
That said, a retest of the pennant’s interior remains possible. If HBAR retreats but holds above the lower trendline, the bullish thesis would remain intact and consolidation could continue until a cleaner breakout occurs.
Fundamentals: Grayscale’s Hedera Trust filing and ETF speculation
Beyond chart patterns, fundamental catalysts are supporting the bullish narrative for HBAR. On August 12, Grayscale filed a registration for a Hedera Trust ETF in Delaware — a move that often precedes formal S-1 submissions with the SEC and signals institutional interest in regulated investment products linked to tokens. The Grayscale filing was submitted alongside a Cardano (ADA) ETF registration, underlining the firm’s push into spot crypto ETFs for layer-1 assets.
Market observers have also speculated that other large asset managers, including BlackRock, may follow up with their own Hedera ETF filings. The prospect of more ETF product filings has been a recurring bullish theme across crypto markets, as spot ETF approvals can significantly broaden institutional and retail demand for the underlying tokens.
What to watch next
- Price action around $0.30 and the pennant upper trendline — a clear breakout above these levels with strong volume would validate the technical target.
- Support at $0.23 — a failure to hold this level would invalidate the bullish continuation scenario and raise the odds of a deeper pullback.
- Newsflow around ETF filings — additional registrations or formal SEC filings from Grayscale or other institutions could provide fundamental fuel for renewed buying interest.
Source: TradingView
Bottom line
HBAR’s setup combines a textbook bullish pennant with improving volume dynamics and a favorable moving-average crossover, while Grayscale’s Hedera Trust registration adds a fundamental tailwind. Traders should watch for a high-volume breakout above the pennant to confirm a move toward the projected $0.37–$0.40 zone, while risk management must consider the $0.23 support as the key invalidation point.
Source: crypto
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