• Hedera (HBAR) stablecoin market cap surged 54% in one week, reaching $86.41M.
• HBAR forms an ascending triangle; potential short-term target of $0.30 if support holds.
• Derivatives market cools with lower volume and weak bullish sentiment.

Hedera Hashgraph (HBAR) is seeing notable market movement as its stablecoin market cap increased 54% within one week. Experts project a possible bullish breakout if key support levels are maintained, which may indicate upward movement.

At the time of writing, Hedera Hashgraph (HBAR) is trading at $0.2536, with a 24-hour trading volume of $739.23 million and a market capitalization of $9.04 billion. In the past 24 hours, HBAR has declined by -0.13%.

Hedera Hashgraph Sees Major Stablecoin Growth This Week

Crypto analyst STEPH IS CRYPTO pointed out an interesting trend in the Hedera ecosystem: the market cap of the Hedera stablecoin increased 54% in one week, reaching $86.41 million. The rise indicates increased interest and movement within its stablecoin ecosystem.

Hedera Hashgraph Eyes Bullish Breakout Amid Key Pattern Formation

Meanwhile, prominent analyst Jireon noted that HBAR appears to be forming an ascending triangle on the chart. If this pattern holds, the next bullish 4-hour candle could push HBAR to a target of $0.30.

Nonetheless, Jireon cautioned that if support fails, HBAR could fall to $0.23, making it essential to defend this area to preserve upward momentum. With the rising stablecoin market cap and a promising bullish chart formation, investors will closely monitor HBAR’s short-term movements for potential breakouts.

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HBAR Derivatives Market Faces Cool-Off

The HBAR derivatives market saw trading volume drop, as volume declined 8.70% to $742.75M. This slowdown indicates lower market participation, as fewer positions were opened or closed during the period.

Open interest declined -4.56% to $436.56 million, showing a decrease in capital invested in actively traded contracts. The decline signals a cautious mindset among market participants, possibly awaiting firmer price signals before committing.

As for the OI-weighted funding rate, HBAR posted a slight positive figure of 0.0052%. It indicates that long positions are paying short positions a small amount, and as such, there is weak bullish sentiment despite the broader deceleration.

However, the funding rate’s modest size implies that market bias remains weak, and no forceful directional movement has been confirmed. Retail traders may be waiting for firmer trends, and subsequent sessions will be critical for momentum reversals.

Also Read | Hedera (HBAR) Soars 12%: Will It Break Through $0.40?