Hedera (HBAR) price rallies as Nasdaq files with SEC to list Canary’s HBAR ETF

Hedera (HBAR) price surged as high as 9% to hit $0.23 Monday, within hours of Nasdaq filing with the United States (US) Securities and Exchange Commission (SEC) to list Canary’s HBAR ETF. With the ongoing market demand surge, how much further can HBAR rise before facing resistance? 

Hedera (HBAR) rally underway as Nasdaq moves to list HBAR ETF from Canary Capital 

The Hedera Hasgraph layer-1 network broke out of the crypto market downtrend on Monday as traders reacted to recent developments surrounding HBAR ETF prospects.

Ripple (XRP) and Litecoin (LTC) have attracted increased institutional demand and HBAR now looks set to join them. 

On Monday, Nasdaq, the world's second-largest equities trading platform, filed to list HBAR spot ETF for trading.

The listing is still subject to the approval of Canary Capital’s HBAR ETF filing currently under review by the US SEC. 

However, market analysts have hinted that Nasdaq’s filing points towards a higher likelihood of altcoin ETFs. 

“Canary just filed the 19b-4 for their HBAR ETF. This comes on heels of them amending S-1 last week (which means SEC gave comments which gives HBAR and Litecoin the best odds and the pole position among the current slew of alt coin ETF filings”

 - Eric Balchunas, Bloomberg Chief ETF analyst, Feb 24, 2025.

As expected, HBAR price surged within hours of the filling announcement on Monday. At press time HBAR price posted as much as 9% intraday rally but those gains dissipated to around 1% later in the US session. 

Beyond that, HBAR trading volume having hit a 20-day peak of $377.4 million before mid-day in the US trading session, market signals suggest more upside could follow despite the cautious market sentiment in the aftermath of the Bybit hack. 

Why Nasdaq filing could drive up HBAR prices further

Nasdaq’s move to list the Canary HBAR ETF has injected fresh momentum into Hedera’s price action.

The exchange submitted Form 19b-4 with the SEC, seeking approval to trade shares of the ETF, which would track HBAR’s spot price.

This follows Canary Capital’s launch of the first HBAR Trust in October 2024 and its S-1 registration filing in November, currently under SEC review.

Nasdaq files to list Canary Capital’s Hedera (HBAR) Spot ETF, Feb 24, 2025 | Source: SEC.gov

The ETF proposal underscores growing institutional demand for digital asset investment products.

Canary Capital has already secured a listing for its Litecoin ETF (LTCC) on the Depository Trust and Clearing Corporation (DTCC), a crucial step toward potential trading.

Analysts expect HBAR to follow a similar trajectory if the SEC grants approval.

“As the most used network by transaction count, Hedera is a prime example of the type of enterprise technology that sits at the intersection of crypto and real-world scalability.”
—Steven McClurg, Chief Executive Officer at Canary Capital

Canary Capital’s ambitions extend beyond HBAR and Litecoin. The firm has also filed for spot ETFs for XRP and Solana, signaling confidence in broader institutional adoption of digital assets. 

With institutional interest observed in Litecoin and XRP markets after SEC’s confirmed fillings from Grayscale and Bitwise in recent weeks, HBAR’s rally may only be getting started.

HBAR Price Forecast: $0.25 breakout could accelerate bullish momentum 

Hedera (HBAR) price forecast remains cautiously bullish as technical indicators suggest an impending breakout.

The price is pressing against the mid-line of the Bollinger Bands and the 20-day simple moving average (SMA), which often acts as a dynamic resistance before a major upside move. A longer lower wick on recent candles signals buyers absorbing sell pressure, reinforcing the potential for another leg higher.

Hedera (HBAR) Price Forecast

Momentum indicators also suggest a gradual positive shift in sentiment.

The MACD histogram prints lighter red bars, showing diminishing bearish momentum, while the MACD line is curling upward toward a potential bullish crossover.

If buying volume continues to rise, HBAR could surge toward the upper Bollinger Band at $0.2419, a key resistance level that, once breached, may accelerate a move toward $0.25.

Conversely, a failure to sustain momentum could see HBAR retrace toward immediate support at $0.2059, aligning with the lower Bollinger Band.

However, the overall setup leans bullish, with volume expansion and improving technical structure favoring an upside breakout in the coming sessions.