Hedera Hashgraph was one of the best-performing cryptocurrencies on Friday, November 15, as a popular crypto analyst made his bullish case.

Hedera Hashgraph (HBAR) price rose to $0.0767, its highest level since July 17, and 66% above its lowest level this month. 

In an X post, a trader known as Maverick, who has over 145,000 followers, said that HBAR’s climb had just begun. He believes that it can surge to the year-to-date high of $0.1813, which is about 182% higher than the current level.

Maverick cites the rising Hedera Hashgraph’s volume and the recent application of a spot ETF by Canary Capital as a potential catalyst. There is a likelihood that Donald Trump’s Securities and Exchange Commission would easily approve such an ETF.

Another potential catalyst for Hedera Hashgraph is that its futures open interest has been in a strong uptrend. It jumped to $66.7 million, up from $26.6 million in September, a sign that it is seeing strong demand.

Still, Hedera Hashgraph has numerous challenges. For one, while it counts large companies like Ubisoft, Dell, Boeing, Google, and Deutsche Bank as members of its governance council, its ecosystem is fairly small. 

For example, it has a DeFi total value locked of just $44 million, making it much smaller than newer blockchains like Sui and Base Blockchain. DEX networks in its ecosystem handled tokens worth $35.4 million in the last seven days, making it the 32nd biggest chain in the industry.

HBAR price could hit $0.1 soon

The daily chart shows that the Hedera Hashgraph price has bounced back in the past few days. This recovery happened after it formed a double-bottom pattern around the support at $0.045. In most periods, this is one of the most bullish patterns in the market.

Hedera has also soared above the key resistance level at $0.063, the neckline of this pattern. It has also jumped above the 50-day and 200-day moving averages. 

Therefore, the path of the least resistance for the coin is bullish, with the next psychological level to watch being at $0.10, which is about 45% above the current level. The stop-loss of this trade will be at $0.055.

Polkadot price may be preparing for a major bullish breakout as a rare pattern that has been forming since August nears its completion.

Polkadot (DOT), a top layer-1 network, was trading at $4.30 on Friday, Nov. 8 after rising for four consecutive days. It has jumped by 18% from its lowest point this year month, meaning that it is approaching a bull market. 

Crypto analysts are bullish on Polkadot despite of its weak fundamentals. One of the main themes has been a falling wedge pattern that has been forming since Aug. 1. In an X post, a crypto analyst known as Globe of Crypto, estimated that the coin could jump to between $9 and $10 when the break out happens. If this happens, it will see DOT token more than double.

A potential catalyst for the Polkadot price is the new connection of the network to other chains like Ethereum, Optimism, Arbitrum, Base, and Binance Smart Chain. This connection, which has been enabled by Hyperbridge, means that users can move assets across these chains without relying on middlemen. 

Meanwhile, there are signs that open interest in the futures market is picking up momentum. DOT’s open interest rose to over $269 million, its highest level since June 17. It has had a strong comeback after bottoming at $179 million in September. 

Still, the biggest challenge for Polkadot is that it has not gained a lot of traction among developers. Its ecosystem growth has been relatively weak such that it has been passed by other newer networks like Base and Sui.

Polkadot price analysis

The daily chart shows that the DOT price has been in a tight range in the past few months. In this period, it has constantly remained below the 50-day and 100-day moving averages.

On the positive side, it has formed a falling wedge pattern, which is now nearing the confluence level. Such a move, especially at a time when oscillators like the Relative Strength Index (RSI) and Stochastic have pointed upwards, is a sign that the coin will soon have a bullish breakout. 

If this happens, Polkadot price may jump to $7.77, its highest swing since May 27 and the 50% Fibonacci Retracement point. If this happens, the token will jump by 76.50% from the current level. This view will become invalid if it moves below this month’s low at $3.66.

Solana flipped Ethereum in its 24-hour volume in the decentralized exchange industry as most of its meme coins jumped.

According to DeFi Llama, Solana (SOL) DEX networks handled over $845 million in the last 24 hours, bringing the weekly volume to $5.17 billion. 

Ethereum (ETH) handled $747 million in the same period. Its weekly volume was over $6.4 billion. The other top chains were BNB Smart Chain and Arbitrum, which processed tokens worth $3.86 billion and $2.32 billion.

Orca has been the biggest DEX in Solana’s ecosystem in the last seven days, followed by Raydium and Phoenix. 

Solana summer

Additional data shows that March was Solana’s best month as it handled cryptocurrencies worth $60 billion during the month.

It was followed by July when it handled coins worth $56 billion as Ethereum processed coins worth $52 billion.

Solana’s volume rose because of the strong comeback of some of its meme coins in the past few days. Popcat (POPCAT) token has risen by over 25% in the last seven days, making it the best-performing top ten meme coin. 

Dogwifhat (WIF) has risen by over 9.4% in this period, pushing its market cap to over $1.72 billion. Cat In A Dogs World (MEW) rose by 16.2% while Book of Meme jumped by 8.5%. In most cases, crypto volume rises when tokens are in an uptrend.

The other notable Solana news was the strong comeback in the non-fungible token industry. Data by Cryptoslam shows that the total Solana NFTs jumped by over 35% in the last seven days to $16.7 million.

The number of buyers rose by 153% to 220,000 while the most popular NFT collections were Sorare, DeGods, and Solana Monkey Business.

Solana has also made more headlines recently. Coinbase added Solana’s ckBTC support while the developers launched PlaySolana, a handheld gaming console. 

Solana’s DEX and NFT volume rose as the SOL token bounced back. It spiked in the last six consecutive days, its highest swing since Aug. 27.