Hedera HBAR Tests Key Resistance as Bullish Momentum Holds Strong

HBAR's recent surge followed its inclusion in Grayscale's Smart Contract Fund, injecting fresh Optimism into the market. The token now tests a critical technical level at $0.20430, a Fibonacci extension zone where momentum shows signs of deceleration.

Beneath the surface, bullish undercurrents persist. The Elder-Ray Bull Power Index has climbed for four consecutive sessions, revealing sustained buyer dominance despite profit-taking wicks on price charts. Exchange netflows tell a similar story—while whale exits have moderated, the absence of aggressive selling suggests holders anticipate further upside.

Open Interest paints the most compelling picture. The steady rise in futures contracts indicates new capital entering HBAR markets rather than speculative exits. Traders appear to be positioning for the next leg higher, betting against superficial signs of exhaustion.