$HBAR rose 12.8% in 24 hours due to altcoin momentum, technical breakouts, and ecosystem growth.
Grayscale trust update and South Korean trading app Salt boosted adoption narratives
Technical breakout above $0.19 resistance with RSI/MACD confirmation
Altcoin rotation accelerates as Bitcoin dominance dips to 63.7%
Deep Dive
1. Primary Catalyst: Ecosystem Momentum
Salt App Launch: South Korea’s mobile trading app Salt launched on Hedera on July 11, targeting 169M+ users in Southeast Asia through telecom partnerships
AI Governance Partnership: Collaboration with Accenture and EQTY Lab (July 12) for tamper-proof AI oversight added enterprise credibility
ETF Speculation: Grayscale’s HBAR trust update on July 10 fueled institutional access hopes
2. Technical Context
Breakout Confirmation: Cleared descending trendline from February at $0.19 (July 12) with 25% volume spike to $1.09B
RSI/MACD Alignment: Daily RSI (73) and MACD histogram (0.0059) show strongest bullish momentum since April
Fibonacci Targets: Next resistance at 127.2% extension level ($0.23), with swing high at $0.2086 acting as interim hurdle
Conclusion
HBAR’s rally combines technical momentum with strategic Asia-Pacific expansion and institutional interest in its RWA-focused ecosystem. While overbought signals suggest potential consolidation, the $0.23 Fibonacci level could act as a magnet if altcoin inflows persist.
Watchpoint: Can HBAR sustain volume above $1B/day to validate its breakout from a 4-month base?