HBAR Price Soars as ETF Approval Odds Drive Bullish Sentiment – Is $0.40 Next?

Hedera (HBAR) has recorded more gains than most of the other top 20 altcoins following a 50% increase in the last seven days. HBAR price is trading at $0.239 today, July 14, while its market cap has surged to its highest level in more than four months at above $10 billion. These gains come amid ongoing speculation about the SEC approving a spot HBAR ETF, which has led to the bullish sentiment reaching its highest level in 2025. Meanwhile, a buy signal on the daily chart suggests that more gains to $0.40 might happen.

HBAR Price Targets $0.40 Amid Double-Bottom Pattern

The HBAR token has created a W pattern, also known as a double bottom, on its one-day chart, which usually appears when a shift in the trend is about to happen. The token’s movements within this pattern confirm a bullish HBAR price prediction by suggesting that bulls are about to control the market as sellers leave.

The possibility of this change in trend happening, as this pattern suggests, becomes more likely following the movement of the price to the resistance level of $0.228. The Hedera token needs to close above this resistance level to confirm that the trend that is shown in this pattern will happen, and a 71% increase to $0.392 will be recorded.

The AO bars are also rising on the positive side to support the bullish bias shared in this chart as the positive momentum grows stronger. At the same time, the upcoming crossover between the 20-day and the 200-day EMA also shows that the short-term bullish trend is growing strong when compared to the long-term trend, and additional gains might happen.

The bullish outlook is also supported by a recent CoinGape analysis that identified a bullish pattern on the one-week chart for the Hedera token, which indicates that a move past $0.40 is very likely.

ETF Approval Odds Drive Bullish Sentiment to 7-Month High

Earlier this month, Bloomberg analyst James Seyffart revealed that there were 90% odds that US regulators are going to approve a spot HBAR ETF. The market appears to be responding to this development now as more attention goes towards this product due to the ongoing gains in Hedera price and the broader cryptocurrency market.

The HBAR ETF news and the 50% gains in the last one week have also led to the rise in market sentiment to the highest level since early December, indicating that there are a lot of positive discussions happening around the token. This can lead to high buying pressure that may drive more HBAR price gains.

The social volumes have also increased to March levels, and this also shows that more people are talking about the HBAR token and its price movements, which could also be a driver for its price growth.

To sum up, the ongoing gains and increased discussions about a spot HBAR ETF getting approval make it likely that the uptrend might not be over, and more gains could occur. The rising bullish sentiment might also contribute to more buying pressure that will drive the upward price rally.