Hedera’s token HBAR continued its upward trend, rising 14.92% in the past 24 hours to trade at $0.2055. The move pushed the price above the $0.20 mark for the first time in several months.
The surge followed the launch of the Canary HBAR ETF on Nasdaq, which opened the market to institutional investors. Trading volume increased more than 361% to $904.89 million, while the market capitalization reached $8.72 billion.
The token has gained nearly 18.5% over the past week, reflecting a shift in market sentiment. Analysts attribute this to a mix of institutional inflows, technical breakouts, and the broader recovery seen across major altcoins.
ETF Listing Expands Institutional Access
The Canary Capital HBAR ETF, listed under the ticker “HBR,” allows investors to gain exposure to Hedera without directly holding digital assets. The ETF keeps tokens in custody with BitGo and Coinbase, while CoinDesk serves as the pricing benchmark.
Canary Capital CEO Steven McClurg said, “Canary is incredibly proud to have delivered on our mission to bring registered crypto investment solutions to the broader investment public.” The ETF listing on Nasdaq was made possible through the SEC’s updated listing guidelines issued in September.
Bloomberg ETF analyst James Seyffart explained that the new rules enable securities to go live 20 days after an amended filing, even when the agency is operating with reduced staff. The filing also revealed plans for additional crypto-based ETFs, including funds for Solana and Litecoin.
Technical Indicators Point to Continued Strength
HBAR’s latest breakout above the 23.6% Fibonacci retracement level at $0.20116 confirmed a bullish shift. The token also moved above its 30-day simple moving average at $0.19255, with the MACD histogram turning positive at +0.0025. These indicators show growing momentum and suggest continued buying activity.
The relative strength index stands at 48.45, indicating a neutral position and potential for further gains. Immediate resistance lies near $0.21, while support remains around $0.19. If the token maintains its position above current levels, the next resistance zone is at $0.233, the July swing high.
Hedera remains focused on its enterprise-grade network, governed by firms such as Google, IBM, and BitGo. The network’s hashgraph technology continues to drive adoption in fast, secure, and scalable decentralized applications.