HBAR Surges 12% Following Robinhood Listing, Making it Top Daily Gainer Among Top 20
Hedera’s HBAR token experienced a significant price surge on Friday, July 25th, rising nearly 12% to reach $0.2657. This outpaced all other top-20 cryptocurrencies in daily percentage gains, according to CoinDesk Data. The rally followed Robinhood’s announcement of HBAR support, expanding its accessibility to a large US retail investor base. This listing triggered a substantial increase in trading volume, with over 713 million HBAR tokens traded within a single hour around 12:00 UTC, pushing prices beyond $0.26. While $0.26 initially acted as resistance, strong upward momentum persisted into Saturday.
Hedera distinguishes itself from traditional blockchains through its hashgraph consensus model, enabling high-speed, low-cost, and scalable transactions. Designed to support decentralized applications (dApps), NFTs, and DeFi, it’s recognized for its energy efficiency. HBAR, the native token, facilitates network service payments, staking for security, and node participation incentives.
Crypto analyst ChartNerd expressed optimism on X, suggesting a potential major upward move for HBAR, contingent on clearing a key resistance level near $0.35. This level aligns with the Supertrend indicator, a tool identifying potential shifts from downtrends to uptrends. A decisive close above $0.35 with strong momentum could trigger “price discovery,” a phase where prior highs cease to act as price barriers. ChartNerd employed Fibonacci extension levels to project potential price targets, suggesting a bullish scenario could lead to $1.26 or even $3.30.
CoinDesk Research’s technical analysis corroborates this upward trend. HBAR’s 24-hour price increase (ending July 26th at 06:00 UTC) from $0.24 to $0.27, representing a near 12% gain, is highlighted. A large volume spike around midday Friday propelled prices above $0.26, although a subsequent minor pullback suggests $0.26 might serve as short-term resistance. Support remained firm around $0.24, with consistent buying activity solidifying an upward trend. The market now awaits a potential breakthrough above $0.27, which could signal further gains.
