Key Takeaways
Hedera’s price action has been strongly bullish, with its rapid gains over the past few days seeing the token climb above key resistances. However, the next resistance is the 2025 Value Area High, and traders can look to book profits at that level.
Hedera [HBAR], at press time, was up 24% in 24 hours, with its daily trading volume soaring by 62% and hitting $1.33 billion. The $10.3 billion market cap altcoin has surged by 75% in July, starting at $6.6 billion. This is remarkable progress on the price front, especially for a relatively large-cap crypto.
The derivatives market also saw strong short-term bullish conviction. In fact, Coinalyze data revealed that the 24-hour Open Interest change was +48.9%. The hike in price and Open Interest meant that traders may be eager to go long in expectation of further price gains.
The liquidation heatmaps did not warn of a sizeable liquidity pocket to the south. Even so, traders must beware of a long liquidity hunt. Especially since the entire derivatives market appeared to be extremely bullish.
HBAR’s volume profile range
Source: HBAR/USDT on TradingView
In this instance, the Fixed Range Volume Profile tool was used to analyze HBAR’s price action in 2025. Using price and volume data, the indicator showed that the Point of Control (red) was at $0.193. This is usually a key support/resistance level. Strong demand over the past few days meant that this crucial resistance was overcome within two days.
The OBV climbed past the highs it made in May, as did Hedera’s price. Together, this could be a sign of high buying pressure behind the altcoin. Its rally has not been driven solely by speculation though. The 1-day market structure was bullish. Also, the Awesome Oscillator agreed that the momentum was bullish with its positive reading.
Finally, the Value Area High and Low (blue dotted) were at $0.255 and $0.144, respectively. The price may be racing towards the VAH, which could act as a pseudo-range high. The $0.22-level, the resistance from May, could be a valid demand zone in case of a retracement. A breakout past $0.255 and a retest of the same level would also offer a buying opportunity.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
