HBAR Surges as Hedera Outpaces Stellar and Algorand in Critical Market Metric

Hedera’s HBAR makes a power play—leapfrogging legacy layer-1 rivals Stellar and Algorand in developer activity just as institutional money rediscovers its love for ’enterprise-grade’ blockchain. The usual suspects on Crypto Twitter are already calling it a fluke.

Price pumps 14% on the news, because nothing fuels altseason like a good old-fashioned protocol pissing contest. Meanwhile, TradFi analysts still can’t tell the difference between a DAG and a sushi roll.

HBAR price technical analysis

The weekly chart shows that Hedera’s price bottomed at $0.1250 in April before rebounding above $0.20 this month. It remains above the key support level at $0.1826, the highest swing on April 22 last year.

HBAR is also trading above the 50-week moving average, while the Relative Strength Index has turned higher. As a result, the coin is likely to continue climbing, with bulls targeting the year-to-date high of $0.4032, a potential 105% gain from the current level.