In its daily chart, the price of HBAR has formed a cup and handle pattern, indicating a possible upward trend. The token recently tested support around $0.2289 and remains above this important level.
A bullish breakout above $0.2927 is likely to generate more gains, with $0.40 being the next resistance. If accumulation persists, a bounce to $0.50 could occur, correlating with a target of 118%.
The technical structures point to a trend favoring accumulation at current ranges, which favors further recovery.
The current price of HBAR benefits from favorable readings from indicators, reinforcing the bullish argument. The Parabolic SAR indicator is positioned below the candles. This shows that buyers are in control and could drive a bullish recovery.
Additionally, the MACD indicates that it is narrowing after a bearish crossover, suggesting that momentum could turn bullish soon. If the MACD line crosses back above the signal line, it would confirm renewed strength and the likely continuation of the upward trend.
Rumors about the possible BlackRock HBAR ETF have sparked new conversations about the development of the token. Although no application has been submitted, this move has generated expectations of increased institutional participation. A listed HBAR ETF would provide greater access to traditional investors and increase liquidity in broader markets.
The price of HBAR could reach the target of $0.50 as long as current conditions are maintained. The cup and handle pattern, supported by the Parabolic SAR and MACD indicators, favors a bullish position. Additionally, speculation about a BlackRock ETF and good long positioning support the belief in a bullish breakout. While there are still risks in the event of a breakdown of support, the overall outlook indicates that HBAR has a clear path towards $0.50 in the near future.
