HBAR surges 12% as Hedera locks arms with TradFi giant for RWA pivot

Hedera’s HBAR token is rallying hard after announcing a partnership with a major financial institution to tokenize real-world assets—because nothing screams ’Web3 adoption’ like legacy players dipping a toe in the water.

The deal targets commercial real estate and carbon credits, with the usual promises of ’institutional-grade’ infrastructure. Because if there’s one thing crypto needs, it’s more middlemen taking their cut.

Market reaction? Predictable. HBAR pumped on the news before settling 8% above pre-announcement levels. Because in this market, even a whiff of TradFi validation gets treated like the second coming of Satoshi.

HBAR price technical analysis

Hedera Hashgraph token peaked at $0.4 in January and then bottomed at $0.1240 on April 7 as most cryptocurrencies crashed. 

The coin formed a falling wedge pattern, which occurs when two descending and converging trendlines come together. It has now broken above the upper side of the wedge, a bullish signal. HBAR has also moved above the 50-day Exponential Moving Average and has formed a small inverse head-and-shoulders pattern.

The Awesome Oscillator has remained above the zero line for four straight days. This popular indicator compares the momentum of shorter timeframes against a longer one to gauge the strength of price movements.

Meanwhile, the BBTrend indicator, which analyzes the relationship between two sets of Bollinger Bands, has continued rising and is about to move above the zero line. Therefore, the coin will likely continue rising as bulls target the key resistance at $0.2593, the 38.2% Fibonacci retracement point.