Hedera HBAR Shows Bullish Signals as Grayscale Trust Filing Fuels Breakout Potential

Hedera's HBAR token is displaying strong technical indicators as it consolidates within a bullish pennant formation, with a projected breakout target of $0.40. The current trading volume contraction during resistance tests typically precedes significant price movements—a pattern now materializing as daily volume surges 30%.

The bullish thesis gained momentum on August 12 when Grayscale filed paperwork for a Hedera Trust in Delaware, marking growing institutional interest. This development follows HBAR's previous breakout from a $0.23 double-bottom pattern, though the $0.30 resistance level has rejected two prior attempts.

Key support remains firm at the $0.23 breakout point, while the EMA 20/SMA 50 golden cross continues to support upward price momentum. The converging pennant lines approach their apex amid building buying pressure—a classic continuation pattern within established uptrends.