HBAR Price Rises Despite SEC Delaying Canary HBAR ETF Approval Yet Again
Hedera (HBAR) worth is displaying resilience even because the U.S. Securities and Exchange Commission (SEC) delayed its determination on Canary Capital’s proposed HBAR ETF to November 8.
Despite current bearish strain, the altcoin managed to climb 4% as investor anticipation fueled shopping for curiosity.
Hedera Has The Investors’ Support
On the 12-hour chart, the Chaikin Money Flow (CMF) highlights a pointy uptick, signaling sturdy capital inflows into Hedera. This pattern signifies that buyers stay assured in HBAR’s potential, largely ignoring regulatory uncertainty surrounding the delayed ETF approval.
Investor conviction seems to be bolstering HBAR’s stability. Sustained inflows throughout unsure instances counsel that holders imagine within the asset’s long-term progress potential. This optimistic sentiment might assist keep worth power, guaranteeing the token doesn’t collapse below exterior market or regulatory pressures.
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The Moving Average Convergence Divergence (MACD) is flashing encouraging indicators, displaying its first bullish crossover in additional than six weeks. This technical sign underlines renewed optimism for Hedera and suggests an rising upward pattern backed by investor demand.
While the broader crypto market has remained cautiously bullish in current classes, HBAR stands out because it builds momentum independently of normal sentiment. Support from devoted holders continues to play an important function, serving to the token maintain beneficial properties even within the face of delayed regulatory choices.
HBAR Price Aims At Rallying
At the time of writing, HBAR trades at $0.227, up 3.5% during the last 24 hours. The altcoin is presently testing resistance at $0.230, having rebounded from a strong help base at $0.219.
If bullish momentum continues, HBAR could break previous $0.230, opening the door for an increase towards $0.245 within the close to time period. Sustained shopping for strain can be important in validating this transfer and strengthening investor sentiment additional.
On the draw back, if momentum fades and sentiment shifts, a failure to breach $0.230 might result in a retracement. In such a state of affairs, HBAR price might slip again towards $0.219 and even check decrease help ranges at $0.213, invalidating the bullish outlook.
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