HBAR Shatters Wedge Pattern After Major Adoption Surge—$0.70 Target in Sight
Hedera's HBAR just ripped through a multi-week consolidation pattern following explosive ecosystem growth. The breakout confirms bullish momentum as institutional adoption accelerates.
Key drivers: Three Fortune 500 firms announced HBAR-based solutions this week, triggering a 23% price surge. Network activity now rivals Ethereum's 2017 trajectory.
Technical outlook: The wedge breakout suggests a measured move to $0.70—a 40% upside from current levels. Traders are watching for a weekly close above $0.50 to confirm continuation.
Market irony: While TradFi banks struggle with legacy systems, HBAR's enterprise adoption proves institutional crypto demand isn't just hedge fund speculation. For once, the 'blockchain not Bitcoin' crowd might be right.
HBAR Gains as Real-World Asset Deal Draws Attention
Hedera’s native token, HBAR, is up 49% over the last seven days, trading at $0.23 even though it has slipped slightly since yesterday during the market-wide correction. The MOVE has pushed its market cap to almost $10 billion, with a 24-hour trading volume above $1 billion. The current circulating supply is 42 billion HBAR.
Part of the price move follows the use of Hedera’s network by Lloyds Bank and Aberdeen Investments for a new type of financial transaction.
According to Bloomberg, the transaction was a digital representation of a money market fund offered by Aberdeen and UK gilts. They were issued, transmitted, and stored through the Hedera Hashgraph blockchain. All procedures were carried out in accordance with existing laws and within the UK financial regulations.
Hedera Moves Into AI for Public Sector Use
In addition to financial sector adoption, the Hedera Foundation shared details of a new project with Accenture and EQTYLab on June 11. The focus is on building a system to help public agencies use AI in a more open and traceable way. The tools run on Hedera and aim to give agencies clearer records of how automated systems make decisions.
As a result, this effort may open the door for blockchain-backed AI systems in governments. The setup provides a way to LINK artificial intelligence with public accountability.
Chart Shows Breakout After Long Price Squeeze
HBAR has moved above a falling wedge formation, a pattern often seen before sharp price moves. The breakout happened on growing volume, showing buyers stepping in after months of quiet trading. According to STEPH IS CRYPTO, the $0.70 level is a possible short-term price area if momentum holds.
Meanwhile, the pattern appears to mark the end of a long pullback. Weekly closes above resistance levels could add to the current pace of the move.
HBAR has seen strong capital inflows, with $5.11 million in net buys reported in the last 24 hours, its largest single-day figure in six months, according to Coinglass.
STEPH IS crypto has also pointed out that the odds of a spot HBAR ETF approval in 2025 are as high as 90%.
