The crypto market experienced a broad sell-off late last week, with most major cryptocurrencies seeing significant declines. However, one outlier has been HBAR, the native token of the Hedera blockchain network. Despite the crypto downturn, HBAR has surprisingly been on an upward trajectory.
On Friday, as Bitcoin fell to a two-month low below $26,000, dragging the overall crypto market down, HBAR bucked the trend. While most major cryptos closed the day firmly in the red, HBAR managed to end the day green. This positive momentum continued into the weekend, with HBAR seeing a huge surge on Saturday, August 19.
HBAR broke through the key resistance level of $0.059, hitting intraday highs above $0.067 and notching gains of over 17% in 24 hours. This makes HBAR the biggest daily gainer out of the top 100 cryptos. Over the past week, even as the crypto market plunged, HBAR has still gained 16%.
This price increase for HBAR can be attributed to growing institutional adoption and positive sentiment around the Hedera network. Major companies like Hyundai, Kia, and FedNow have recently embraced Hedera for supply chain tracking, payments and other use cases. This real-world utility is driving developer and investor interest in HBAR despite the broader crypto downturn.
As one of the few cryptos bucking the bearish trend, HBAR’s technical breakout and fundamental adoption drivers make it a crypto to watch closely in the weeks ahead. Its ability to surge while the overall market falters reflects growing confidence in Hedera’s long-term vision.
Fast recoveries after the selloff = good long term buys
HBAR’s ability to rebound and rally after the latest crypto market selloff suggests it could be a strong long-term investment. History shows that cryptocurrencies that recover quickly after major price crashes tend to outperform the rest of the market in the next bull run.
When the broader crypto market sees steep declines, the weakest and most overhyped projects usually struggle to regain footing. They continue to languish while prices stagnate. Meanwhile, cryptocurrencies with real-world utility and solid fundamentals are able to bounce back faster. Their resilient prices reflect genuine demand and adoption.
HBAR has exhibited this kind of resilience in recent weeks. While speculative cryptos remain down 20-30% or more, HBAR has rebounded swiftly and is again testing key resistance levels. Its fundamental case seems unaffected by short-term fear and volatility.
These sort of “recovery plays” often foreshadow the next wave of breakouts when the crypto market turns bullish again. HBAR’s ability to quickly rebound bodes well for its long-term trajectory. If historical patterns hold, the cryptos like HBAR that bounce back first from sell-offs are primed for massive gains during the next parabolic run. Their momentum makes them attractive prospects for investors with a multi-year time horizon.
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