- The HBAR price jumped 5.2% in 24 hours, reaching its highest point in a month at $0.178 with rising trading volume.
- Stablecoin market cap on the Hedera network expanded by $90 million in two weeks, signaling growing user activity.
- DeFi TVL on Hedera increased by 24%, while bullish sentiment strengthened with open interest up 6% to $271 million.
Hedera (HBAR) recorded a 5.2% price increase over the last 24 hours, reaching $0.178 on July 10. This marks its highest value in a month, supported by increased market participation and investor confidence. The rally has been accompanied by a notable 43% surge in daily trading volumes, which rose to $367 million.
HBAR’s recent price behavior suggests a technical breakout from a double bottom pattern. The token crossed a key support zone and moved toward resistance at $0.22. The neckline is also made up of this price level. Breaking through this point would validate the trend, and a subsequent upward trend to $0.42 would indicate the gain between the two levels of support and resistance.
Technical indicators are indicating increasing bullish spirits.
Relative Strength Index (RSI) values are now well above 50, which means that buying pressure is increasing. The RSI’s pattern of higher lows further supports the strength of the current trend. These indicators align with the observed increase in long positions and overall market interest.
The recent gains have been contributed to by the increased usage on the network by Hedera. DeFiLlama reports that in the last two weeks the stablecoin cap of the Hedera blockchain grew by about $90 million. This inlet marks increased activity by users on the network, which can support the cause of bullish momentum on HBAR.
DeFi Growth Supports Token Outlook
In addition to stablecoin growth, Hedera’s Total Value Locked (TVL) rose by 24% over the same period. It increased from $72 million to $89 million, reflecting expanding DeFi engagement. This increase in locked assets demonstrates strengthening utility and confidence in Hedera’s ecosystem.
Market data from Coinglass indicates a weekly high in the long/short ratio. Open interest grew by 6% to $271 million, showing strong expectations for continued price movement. The combination of technical signals and network metrics suggests that HBAR could approach the $0.229 resistance level in the near term.
