HBAR has surged 9% in the last 24 hours to reach $0.074, marking a significant recovery from previous levels. According to reports from AMBCrypto, the altcoin's price movement coincides with Hedera's network activity reaching unprecedented levels. Daily transactions on the network reached an all-time high of 346,943, representing a noticeable increase from previous levels. The network's total value locked (TVL) has also recovered to above $23 million, recovering from approximately $15 million in mid-August. Latest price predictions show HBAR trading at $0.0722 with a daily range of $0.0702 - $0.0744.
External market indicators demonstrate growing institutional interest in HBAR. As reported by AMBCrypto, U.S. HBAR spot ETFs recorded $848K in daily net inflows, with combined net assets reaching approximately $50.14 million. This represents the largest inflow in the recent period and indicates institutional money flowing into applications built on the Hedera network. The ETF performance contrasts with previous periods when Grayscale's decision to withdraw its HBAR ETF filing had weakened the token's narrative.
On the hourly chart, HBAR climbed from approximately $0.067 to $0.074, demonstrating a steady series of higher highs and higher lows. According to AMBCrypto, buying pressure increased with the move, as indicated by the rising OBV (On Balance Volume), which shows that volume has supported the rally. Derivatives traders are also positioning bullishly, with aggregated Open Interest rising to approximately $46.6 million, indicating more positions are being opened as HBAR advances. The Average Funding Rate remains positive at about 0.0076, suggesting long positions have the upper hand.
Despite the bullish momentum, technical indicators suggest potential consolidation ahead. As reported by AMBCrypto, HBAR's RSI has moved above 70, which typically indicates overbought conditions and makes a consolidation more likely. The previous resistance level at $0.07 had been an important threshold that traders had warned could weaken HBAR's rebound if buyers failed to push past it. The current surge above this level suggests renewed bullish sentiment in the market, with latest price predictions showing continued upward momentum through the week.
