Hedera Down 35% In A Month, But Jumps Ahead of Dogecoin, XRP, Solana In ETF Race

Hedera HBAR/USD has seen a 35% decline this past month, but the approval process for a spot HBAR ETF has triggered renewed interest among traders.

Trader Notes: Crypto trader Javon Marks sees HBAR's first breakout target at $0.504, a 128% increase from current levels. If this level is broken, HBAR could push toward $1.00.

Crypto trader Mihir aka RhythmicAnalyst highlighted an Inverse Head & Shoulders (H&S) bullish pattern, signaling a potential reversal for HBAR.

Community News: Canary Capital submitted a 19b-4 filing with the U.S. SEC as the Nasdaq Stock Market applied on their behalf. This filing follows last year's S-1 registration and, if acknowledged, will start a 240-day countdown for a decision on the ETF.

AllinCrypto noted that Hedera is now ahead of Dogecoin, XRP and Solana in the ETF approval race, making it the top altcoin after Ethereum for potential institutional adoption.

What's Next: As institutions eye altcoin ETFs, HBAR's price action will depend on further regulatory progress and broader market sentiment.

Read Next: 

• Ranking The XRP, Dogecoin, Solana, Litecoin ETF Approval Chances: One Altcoin Has A 90% Chance, Bloomberg Analyst Says

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