HBAR Rally Builds as Grayscale Files for Hedera Trust on Nasdaq

Buy-side momentum is gradually building across HBAR spot markets, a development that comes as Grayscale files a Form S-1 for its new Hedera Trust. 

The filing signals a potential listing under the ticker HBAR, pending Nasdaq’s approval of a rule-change request necessary to allow the product to trade.

Buyers Eye HBAR as Grayscale Files New Hedera Trust

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The S-1 filing, submitted yesterday, outlines the details of Grayscale’s proposed Hedera Trust, designed to provide investors with regulated exposure to HBAR. 

At the same time, the asset manager also submitted filings for exchange-traded funds tied to Bitcoin Cash and Litecoin. Grayscale emphasizes that these products aim to offer investors broader and more regulated access to altcoins beyond the industry’s two largest assets.

The timing of the filings coincides with the SEC’s decision to extend its review of Nasdaq’s application to list the Grayscale Hedera Trust, originally submitted in February.

HBAR Shows Strength in Spot Markets

Developments around Grayscale’s new filing have contributed to a gradual buildup of buy-side pressure in HBAR spot markets. On the HBAR/USD one-day chart, the token’s Relative Strength Index (RSI) has broken above the 50-neutral line and continues trending upward, signaling a shift in market sentiment toward the bulls.

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The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

HBAR’s recent RSI break above the 50-neutral line signals a shift in market sentiment toward the bulls. The metric indicates that buying momentum is strengthening and demand may be rising. 

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This move suggests that the asset could be entering a phase of sustained upward pressure, particularly as traders increasingly respond to the developments around Grayscale’s new filing.

In addition, HBAR’s 3% uptick in the past day has pushed its price above its 20-day exponential moving average (EMA). This confirms the bullish tilt in market sentiment. The key moving average forms dynamic support below HBAR at $0.2285 at press time. 

The 20-day EMA measures an asset’s average price over the past 20 trading days, giving more weight to recent prices. A break above this level signals a shift toward bullish sentiment. It indicates that buyers are gaining control and that short-term momentum is strengthening. 

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For HBAR, the token recently tested and moved above its 20-day EMA. This supports the bullish signals from its RSI that buying pressure is building. 

HBAR Faces Upside to $0.3050, Downside Risk at $0.1963

As HBAR traders respond to both market momentum and positive developments surrounding Grayscale’s Hedera Trust filing and increase their demand, the upward pressure on the altcoin’s value increases. In this scenario, it could rally toward $0.2762.

Conversely, HBAR could fall to $0.2123 if demand falls and selloffs grow.