Hedera's HBAR token is experiencing a notable surge today, driven by a combination of technical and fundamental factors. The recent price action suggests a breakout from previous wedge formations, indicating building bullish pressure. Analysts have pointed out that HBAR's price is currently hovering near $0.36, with momentum remaining constructive as the Relative Strength Index (RSI) has rebounded from oversold levels. This technical setup suggests a renewed push higher may be on the horizon, with potential targets at $0.43 and beyond if the bullish structure holds.
Additionally, HBAR has been on the radar of investors due to strong fundamentals over the past week. The token has seen a price increase of over 35.7%, reaching close to its previous all-time high. This uptick coincides with Coinbase Prime adding HBAR custody services, potentially opening doors for institutional investors. The Hashgraph Association's recent partnership with Taurus to enhance the secure custody and tokenization of HBAR globally further adds to the positive sentiment, particularly in regions with clear regulatory frameworks.
HBAR is currently trading at $0.3626, marking an 11.09% increase from its previous close of $0.3264.