Hedera Is Up 9% in a Day: Will It Hold Gains?

Hedera (HBAR) has posted a notable daily gain, rising by 9.65% in the past 24 hours and nearly 17% over the past week. The token is currently trading around $0.1943, with 24-hour trading volume up by more than 22%, signaling a rush of renewed market interest. The key question now is whether HBAR can sustain this momentum or if the rally will prove to be temporary.

Open Interest Surge Shows Growing Trader Confidence

What stands out in HBAR’s recent rally isn’t just the price movement but the sharp increase in derivatives activity. Open Interest (OI) has surged by 46.8% within the past two days, reaching $232 million. This significant uptick indicates that market participants are engaging with growing confidence rather than observing passively.

The rise in OI alongside price action typically reflects the entry of fresh capital, as opposed to a mere short squeeze. In addition, funding rates have turned positive, signaling a greater appetite for long positions. Traders appear willing to pay a premium to maintain bullish exposure, suggesting a broader belief in the rally’s potential.

Of course, derivatives data can shift quickly. But for now, it reflects optimism rather than caution.

Technical Signs Show Strength

HBAR has shown strong follow-through after breaking out of a multi-month descending wedge—a classic bullish pattern that often signals the end of a correction. The breakout came just as HBAR reclaimed the 0.618 Fibonacci retracement level at $0.174, which had acted as a key support during the January and March dips.

The daily Relative Strength Index (RSI) is now trending up but remains below overbought levels. That’s important—it means momentum is building, but the token hasn’t overheated just yet. Short-term, this supports the idea that HBAR could push toward its next key resistance at $0.215, which corresponds to the 0.5 Fib retracement from the $0.38 peak.

However, a deeper correction could drag the price toward $0.143, which served as a springboard back on April 7. That would test the bullish thesis, at least temporarily.

Sentiment Is Improving, But It’s Not a Full Reversal Yet

Although volume has increased, the rise is not yet substantial. This is important to note. The recent spike in Open Interest and funding rates shows more speculative activity, but a strong bullish reversal usually requires higher spot volume to confirm it. Right now, volume is up but not convincingly high, so while the outlook is positive, the market hasn’t fully committed to the move yet.

That said, breaking the falling wedge pattern is a significant development. Technical analysts often see this as a change in sentiment. When combined with the recent RSI trend and reclaimed Fibonacci levels, the technical picture leans bullish, though with some caution.

If HBAR breaks cleanly above $0.215, the next targets could be around $0.255 and possibly $0.306. These levels correspond to key Fibonacci retracement zones and may act as important psychological barriers. Traders should watch for bearish divergence, particularly if the RSI peaks while the price stalls. This scenario can indicate a possible pause before the trend either continues or reverses.

Will HBAR Keep Rising?

Whether Hedera can keep rising depends on two main things: volume and support. HBAR has a setup that could lead to more gains. It’s trading above important retracement levels, Open Interest is increasing, and sentiment looks better.

For now, the bullish momentum is there but still fragile. Traders will be watching closely to see if it can move above $0.215. If it does, higher targets could be reached. But if the rally loses strength and sellers take over, we might see a drop back to $0.174 or even near $0.14.

Still, with stronger fundamentals and more interest, HBAR’s recent strength looks like more than just a quick spike. It’s not a full reversal yet, but the outlook remains promising.