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Hedera Hashgraph’s native token, HBAR, is showing signs of a potential bullish breakout after forming a significant falling wedge pattern on its price chart. As of Monday, the token was trading at $0.1882, slightly below last week’s high of $0.2024—its highest level since March 12. This marks a notable recovery, with the token up approximately 51% from its lowest point earlier this year.

Hedera Gains Momentum from Tokeny Integration

One of the key catalysts for the recent surge in Hedera Hashgraph’s price is its latest integration with Tokeny Solutions. Tokeny is a leading infrastructure provider that has collaborated with major financial institutions, including ABN AMRO, Crédit Agricole, and BNP Paribas. Over the past few years, Tokeny has facilitated the tokenization of over $28 billion in assets, serving more than 120 clients globally.

This partnership enables institutions to tokenize and onboard assets onto the Hedera network in a matter of weeks using Tokeny’s white-label solutions. Additionally, the integration streamlines the process for businesses by allowing them to incorporate on-chain finance APIs into their systems without requiring extensive development efforts. This ease of use could drive more institutional adoption of Hedera’s blockchain technology.

Surge in Network Activity and Stablecoins

The Hedera network has experienced a significant uptick in activity recently. Over the past seven days, the total market capitalization of all stablecoins on the network has jumped by almost 40%. Currently, Hedera holds over $113 million in stablecoins, a sharp increase from $26 million in January. Such a rise in stablecoin activity often signals growing usage and engagement within the network.

Technical Analysis of HBAR Price

From a technical perspective, HBAR has shown promising signs of a bullish trend. After peaking at $0.40 in January, the token bottomed out at $0.1240 on April 7 during a broader cryptocurrency market downturn. Since then, the price action has formed a falling wedge pattern—a bullish indicator characterized by descending and converging trendlines.

The recent breakout above the upper boundary of the wedge is a positive signal for investors. Additionally, HBAR has surpassed the 50-day Exponential Moving Average (EMA) and developed an inverse head-and-shoulders pattern, further supporting the bullish outlook.

Key Indicators Supporting Bullish Momentum

  • Awesome Oscillator: This momentum indicator has remained above the zero line for four consecutive days, suggesting sustained upward momentum.
  • BBTrend Indicator: The BBTrend, which analyzes the relationship between two sets of Bollinger Bands, is rising and approaching the zero line, indicating increasing bullish pressure.

With these technical signals in place, HBAR is likely to continue its upward trajectory. Traders are eyeing the next key resistance level at $0.2593, which aligns with the 38.2% Fibonacci retracement point.

Outlook for Hedera Hashgraph

As Hedera Hashgraph continues to expand its ecosystem through strategic integrations like Tokeny Solutions and sees rising on-chain activity, the token’s price could gain more traction in the coming weeks. The combination of technical indicators and fundamental developments provides a strong case for potential growth. Investors and traders should monitor key resistance levels and overall market conditions as they consider their strategies.

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