The native token of the Hedera network registered a positive movement this Monday in digital financial markets. This bullish reaction arises at a key moment, where the Axelar integration boosts HBAR by connecting its ecosystem with multiple external chains. According to technical data derived from the alliance announcement, the asset managed to capture investor attention, raising its immediate quotation after the improvement in its connectivity was confirmed.
During the 24-hour trading session, the price of HBAR climbed to reach 0.144 dollars per unit. This movement was backed by unusually high activity, registering a 59% increase in trading volume above its average. The peak of the day was momentarily situated at 0.1555 dollars, although subsequent selling pressure adjusted the price within a descending channel. Despite intraday volatility, technical support managed to consolidate above previous critical levels.
Will this technical alliance manage to reverse Hedera’s structural bearish trend?
The relevance of this event lies in Axelar’s ability to link Hedera with more than 60 different blockchain networks. This massive connection facilitates access to decentralized finance, solving liquidity isolation problems. Therefore, interoperability becomes a fundamental engine for the utility of the token in the long term. However, despite this fundamental catalyst, the asset showed an underperformance against the CD5 index by 1.64%, suggesting a selective rotation of institutional capital.
Regarding technical analysis and price implications, the scenario presents mixed signals for traders. On one hand, a bullish reversal was detected in the 60-minute chart with a breakout volume of 6.8 million. Nevertheless, the macro trend remains heavy with resistance at the moving averages of 20 and 50 days. Analysts are closely watching the demand zone at 0.125 dollars if the immediate support of 0.1410 dollars were to fail in the upcoming sessions.
The market remains cautious regarding the structure of lower highs that has dominated the chart since September. While the volume increase validates the current recovery attempt, a sustained breakout of key resistances is required. Thus, the immediate future of the asset will depend on cross-chain liquidity and whether bulls can challenge the prevailing bearish structure with the new network functionality.
