HBAR eyes breakout, open interest grows 2.46% to $331M

Tech

HBAR eyes breakout, open interest grows 2.46% to $331M

• Positive funding rates favour bullish positioning.
• A flip of $0.222 may trigger a move to $0.250.
• Key support level remains at $0.200.

Hedera Hashgraphs native token HBAR has shown signs of upward momentum as technical indicators align in favour of a potential breakout.

A Golden Cross formation has emerged after a prolonged period of rangebound movement, suggesting a shift in trend direction.

At the same time, a steady rise in derivatives market activity and long contract positioning underscores increased investor confidence in the altcoin, despite a cautious broader crypto landscape.

HBAR is currently trading at $0.2099, up 0.75% on the day, and is testing a key resistance level near $0.222. If this barrier is cleared and converted into support, HBAR could continue its climb toward $0.250 in the short term.

Source: CoinMarketCap

A decisive breakout could also open the door to higher price discovery in the weeks ahead.

Golden Cross follows failed Death Cross

HBAR has recorded a bullish Golden Cross pattern, typically viewed as a key indicator of positive price action.

The formation occurs when the 50-day exponential moving average (EMA) moves above the 200-day EMA.

This crossover comes after a month-long Death Cross failed to trigger a significant downtrend, indicating weakening selling pressure and a potential change in direction.

The presence of the Golden Cross signals that short-term momentum is now skewing in favour of buyers.

Historically, this pattern has preceded strong rallies in a range of altcoins, especially when supported by market interest and volume.

Open interest up 2.46% to $331 million

Derivatives data from the past week supports this technical trend. HBARs open interest has risen 2.46%, increasing to $331.28 million.

This growth implies more traders are entering the market or reinforcing their positions, suggesting steady accumulation rather than a speculative surge.

The rise in Open Interest coincides with a positive funding rate, reflecting market positioning that leans toward long contracts.

When funding rates are positive, traders are typically expecting higher prices and are willing to pay a premium to keep long positions open.

Alongside Open Interest, trading volume in spot markets has also picked up moderately, further strengthening short-term bullish sentiment and market participation.

Price levels to watch: $0.222 and $0.200

While current indicators suggest a rally may be forming, HBAR still faces key resistance at $0.222.

This level has previously acted as a ceiling for the tokens price action and will need to be broken decisively to confirm the bullish trend.

If HBAR can flip $0.222 into a support floor, analysts will likely begin targeting $0.250 as the next leg up.

However, failure to maintain momentum could result in a period of consolidation.

A drop below $0.200 would invalidate the short-term bullish case and expose the token to downside risk toward $0.182.

The coming sessions will be critical as Hedera tests investor sentiment in a largely neutral market environment.

A sustained move above $0.222 could shift momentum decisively in favour of the bulls.