HBAR Price Eyes Breakout as Grayscale Files for Hedera Trust ETF

Hedera’s native token, HBAR, is showing signs of a potential breakout as both technical and fundamental factors align in its favor. Recent market action has seen HBAR consolidating in a bullish pennant pattern — a formation that often precedes sharp upward moves — while investor sentiment is buoyed by fresh ETF-related developments.

The latest rally began after HBAR broke out of a double bottom pattern, clearing resistance at $0.23 and climbing to $0.30. Despite failing to breach that level twice, the price has held firm above the breakout zone, signaling resilience among buyers.

Over the past week, the token’s trading range has tightened, with price action coiling between converging trendlines. This consolidation comes alongside a bullish crossover of the 20-day exponential moving average (EMA) and the 50-day simple moving average (SMA), reinforcing the positive outlook. Notably, trading volume has contracted during this period — a common characteristic before a potential breakout — but saw a 30% uptick in the last 24 hours as HBAR tested the upper boundary of its pennant pattern.

If the price breaks above the formation, technical projections suggest a move toward $0.37, based on the height of the preceding rally. Still, a short-term pullback within the pennant remains possible before any decisive breakout, as long as the lower trendline holds.

Beyond chart signals, a recent fundamental catalyst is adding fuel to the bullish case. On August 12, Grayscale registered the Hedera Trust ETF in Delaware, alongside a Cardano (ADA) Trust. Such registrations often precede formal SEC filings and hint at future investment vehicles that could bring broader exposure to HBAR. Market chatter has also surfaced around the possibility of BlackRock filing for its own Hedera ETF in the coming days.

With a favorable technical setup and growing institutional interest, traders are watching closely to see if HBAR can break free from its current range and extend its summer rally.