HBAR price surges on Grayscale inclusion, testing a key resistance level. Will the bulls maintain momentum and push HBAR to new heights?

.18 Resistance: Can the Bulls Break Through?" >

HBAR is making moves! Riding high on Grayscale's decision to include it in their Smart Contract Platform Fund, HBAR's price is testing a crucial resistance level of $0.18. The question now is, can the bulls keep the momentum going?

HBAR's Bullish Momentum: A Deep Dive

On July 9, 2025, HBAR witnessed a price increase of over 5%, fueled by Grayscale's announcement. This sustained investor interest highlights HBAR's growing prominence alongside Ethereum, Solana, and Cardano.

According to Grayscale's updated GSC fund allocation, HBAR now holds approximately 5.8% weight, placing it ahead of Avalanche. This move solidifies HBAR's position in institutional conversations.

Technical Analysis: Double-Bottom Pattern in Play

The HBAR daily price chart reveals a classic double-bottom reversal pattern, with lows at $0.13 in mid-April and late June. This bullish setup suggests a potential 60% breakout if confirmed by a close above the neckline resistance near $0.22.

If the bulls manage a decisive close above $0.18, the technical projection from the double-bottom pattern points to the next major target at $0.28, aligning with a previous rejection in March. However, failure to surpass $0.18 could lead to consolidation back to the $0.15 level, with solid support from the EMA and Bollinger mid-band.

Solaxy: A Solana Layer 2 Catching the Eye of HBAR Bulls

With HBAR benefiting from institutional tailwinds, investors are also exploring early-stage opportunities like Solaxy, Solana’s first Layer 2 solution. Solaxy combines meme appeal with real Layer 2 infrastructure, attracting both retail and corporate traders.

Currently in presale, the $SOLX token offers staking APY as high as 71%, drawing attention from HBAR and Solana holders seeking early exposure to the next L2 breakout.

Potential Roadblocks and Considerations

While the technical indicators suggest a bullish outlook, the Relative Strength Index (RSI) reading of 62.04 signals potential overheating, advising caution as the price tests key resistance at $0.18. It's essential to watch for any signs of long-term holders taking profits, which could trigger a temporary pullback.

Final Thoughts: Will HBAR's Bulls Conquer $0.18?

HBAR's recent surge is exciting, and the technicals look promising. However, like navigating the NYC subway during rush hour, a little caution can save you from getting squished. Keep an eye on that $0.18 resistance – if HBAR breaks through, we could be looking at a whole new ballgame. If not, well, there's always the next train (or in this case, the next bullish run)!

News data source: kdj.com

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