Foreign media reports that Hedera's token HBAR has recently strengthened, with its price rising nearly 4% in a single day. This is driven by two factors: a breakout from a chart pattern and increased market attention to discussions surrounding US cryptocurrency regulatory legislation.
Regulatory discussions drive attention
The article mentions that the US Congress is still discussing the Clarity Act, which aims to establish a clearer regulatory framework for digital assets. Although the bill has not yet been passed, the market has already begun assessing which blockchain networks might benefit first. Hedera, due to its enterprise-oriented architecture, governance committee model, and its focus on tokenization, payments, and real-world assets, is considered one of the projects more likely to meet institutional needs.
ETFs continued to record net inflows
Alongside this expectation, Hedera-related investment products have continued to attract funds. According to data cited in the article, Canary's Hedera spot ETF recorded a net inflow of $540,000 in the latest trading day, continuing its cumulative subscription trend since its launch.
- Latest single-day net inflow: $540,000
- Percentage of circulating supply held: Approximately 1.6%
- Net outflow for only 1 day since launch
The article states that the fund has only experienced net outflows on one trading day since its launch and currently holds nearly 1.6% of HBAR's circulating supply. This indicates that institutional funds still maintain a certain level of interest in the asset despite recent market volatility.
Prices approach key resistance
Looking at the price action, HBAR had previously experienced a nearly two-month-long decline, with consistently lower highs. The article argues that the recent upward breakout from the descending wedge pattern suggests that previous selling pressure may be weakening, and the short-term trend is showing signs of recovery.
The market is currently focused on the $0.074 to $0.075 range, where significant selling pressure has previously been observed. If the price breaks above $0.081, the recent bearish structure may be broken, and the next upside target would be around $0.085.
However, if the buying momentum fails to sustain after the breakout, HBAR may retest the $0.066 support level before seeking another rebound opportunity.
