Hedera’s Axelar partnership sparks bullish sentiment: HBAR eyes $0.20!

Key Takeaways

Why did HBAR jump 12%?

Axelar integrated Hedera into its multi-chain network, boosting liquidity, utility, and investor sentiment.

What’s supporting a potential continued rally?

Whale accumulation, a 1%+ positive Funding Rate, and a long/short ratio of 1.7 indicate strong buyer dominance.

Axelar, the interoperability protocol connecting more than 60 major blockchains, has officially integrated with Hedera, according to recent reports. The development is already making waves across the ecosystem.

The announcement has triggered a sharp instant market response, with Hedera [HBAR] prices jumping by nearly 12% in the last 24 hours as traders positioned themselves around what could be a major boost to Hedera’s cross-chain functionality.

The integration now places Hedera within a broader and multi-chain network. The broader multi-chain network could potentially improve liquidity flow, asset transfers and developer activity.

As the market reacts to the wider utility prospects, sentiment around HBAR appears to be shifting firmly toward the bullish side.

Whales accumulate as market signals turn bullish

Alongside the recent price spike, Hedera whales have started accumulating more orders at the current HBAR trading price.

The whale alignment signals a growing confidence that the Axelar integration could support sustained demand for HBAR-especially if cross-chain activity picks up over the coming weeks.

Source: CryptoQuant

That not all, on the derivatives side, market conditions remain favorable for buyers.

The predicted Funding Rate was above 1% at press time, a clear indication that long position holders are willing to pay at the expense of remaining in their existing long position.

At the same time, the Long/Short Ratio was 1.7, reflecting a buyer-dominated market. The number of long positions had almost doubled, compared to short positions at the current trading price.

And with the positive Funding Rate, the dominance could be in for the stay.

Source: Coinalyze

Could the rally continue?

With HBAR enjoying a strong reaction to Axelar’s integration and whale accumulation building up, the token’s traders are now watching whether momentum can extend into a broader rally.

While broader market conditions will also play a role, the combination of stronger demand, cross-chain expansion and bullish derivatives activity suggests that Hedera could be gearing up for more volatility — potentially to the upside.

For now, all eyes remain on whether HBAR can maintain its current pace. If the buyers maintain the current dominance, the bullish momentum could continue further to test the resistance at $0.2000.

The stochastic RSI is also bouncing from an oversold region, adding more confidence to the holders already in long positions.

Source: TradingView