💥 HBAR price nears breakout as inverse head and shoulders pattern forms
HBAR price is consolidating below key resistance as an inverse head and shoulders pattern develops, signaling a potential bullish breakout if the neckline resistance is cleared with volume.
HBAR ($HBAR ) price action is showing increasingly constructive behavior as the market builds a classic bullish reversal structure on the higher timeframes. After an extended corrective phase, price has stabilized and begun forming an inverse head and shoulders pattern, a formation often associated with trend reversals when confirmed
On February 12, the largest lobbying organization in the American banking industry—the American Bankers Association (ABA)—submitted a comment letter to the Office of the Comptroller of the Currency (OCC), urging it to slow down the approval process for cryptocurrency-related licenses until Congress completes rules for stablecoins and digital assets. The association warned that prematurely approving new digital asset institutions into the national banking system could pose potential risks to financial stability and resolution mechanisms.
Currently, institutions including Circle, Ripple, BitGo, Paxos, and Laser Digital (a subsidiary of Nomura Securities) are applying for or already hold OCC conditional trust bank licenses. World Liberty Financial, associated with Trump, also submitted an application covering its $1 stablecoin. The ABA believes that, in the absence of the implementation of the GENIUS Act and its supporting regulations, the OCC should not follow the traditional approval pace.