The HBAR price is currently on its major rally to the $5 milestone as the countdown begins for Hedera’s mainnet upgrade. Ahead of this significant development, the cryptocurrency is showing signs of a potential breakout, with analysts and traders closely watching its moves. As the crypto market monitors its price movements, the prevailing question is- will the HBAR uptrend continue, or will it plunge to new lows?
HBAR Token Eyes $5
In a recent X post, blockchain real estate giant Gilmore Estates shared a bullish prediction for the HBAR token as it prepares for the Hedera mainnet upgrade. The platform wrote, “HBAR won’t stop still 5.”
Currently, the token is trading at $0.2230, up by around 8% over the past week. Although the token surged to a monthly high earlier today, it soon plunged and is now trading in the red. Over the past month, the HBAR token has exhibited a highly volatile performance. Initially, it traded negatively but soon rebounded to reach a high of $0.2507. This momentum was sustained for a period before the token experienced a decline, trading near $0.2076. However, the crypto once again rebounded, reaching a high of $0.2303 today.
Coinciding with the decline in value, the trading volume has also experienced a significant downturn. This sharp decline suggests that investors are adopting a cautious stance or a wait-and-see approach, likely due to the upcoming mainnet upgrade and the uncertainty surrounding its impact on the network and the token.
As traders and investors hesitate to make moves, the reduced liquidity may exacerbate price volatility, creating a challenging environment for HBAR. The plunge in trading volume also indicates a lack of confidence in the token’s current trajectory, which could influence its ability to sustain any potential price recoveries.
Hedera Mainnet Upgrade Looms
The Hedera network is gearing up for a major transformation as the platform has announced its potential mainnet upgrade. As revealed, the Hedera mainnet upgrade will take place on October 8, introducing promising features. The development is expected to bring significant enhancements, including improved performance, increased security, and enhanced functionality.
In an X post, the platform announced the upgrade, which will take approximately 40 minutes to complete. The team has cautioned against the possible disruptions the network activity can face around that time.
Institutional Presence
Hedera’s participation in key industry events, such as the Sibos panel on digital currency interoperability alongside SWIFT, Citi, and Germany’s Bundesbank, underscores its role in shaping real-world finance. The network’s enterprise-first approach is further validated by Wyoming’s Frontier Stablecoin pilot, which leverages HBAR for efficient settlement. Backed by the Hedera Governing Council, featuring giants like Google and IBM, Hedera’s value proposition remains strong, offering high throughput, low fees, and energy efficiency.
In addition, the Hedera community is awaiting the SEC’s potential decision on Grayscale and Canary’s spot HBAR ETF applications. The final deadline is set for November 2025, with analysts like Eric Balchunas citing 90%+ approval odds driven by regulatory clarity. Despite short-term market volatility, these fundamentals and growing institutional interests keep HBAR on watch lists.
Bull Trend to Commence
According to analyst ChartNerd, the HBAR token is forming a prime example of a smaller bull flag breakout, with resistance waiting to be broken at key levels. Once this resistance is overcome, the token could potentially surge towards a price tag of $0.50. Currently, the 20 WEMA is providing support at $0.22, indicating a strong foundation for potential growth. STEPH IS CRYPTO has also shared a bullish outlook, predicting Hedera’s strong rally if it surges past the critical $0.0227.
While the technical setup and fundamental developments suggest a promising outlook for HBAR, it’s essential to approach this analysis with caution. The crypto market’s inherently volatile and unpredictable nature makes the cryptocurrency’s potential future uncertain.
Read More: Pump.fun Token Price Soars Past Key Support: What’s in Store?
