NewsBTC
March 4, 2026 5:00 AM UTC

McLaren Deal Puts Hedera In The Spotlight As HBAR Traders Watch A Breakout

McLaren Racing has joined Hedera’s governing council, giving the network a fresh shot of attention just as HBAR trades near $0.08. The token was up 1.40% over 24 hours, but it was still down 6% over the past week, leaving traders with a mixed picture. Related Reading: Bitcoin Ends 5-Month Losing Run — Real Reversal Or Just April Fool’s Hype? Trading Volume Slips As Price Stays Tight According to Coingecko data cited in the report, HBAR’s 24-hour trading volume fell 15% to $87 million. That drop points to softer short-term activity even as the price held near a key range. The token has also spent recent sessions moving inside a tight band, which often draws attention when a larger move may be building. Crypto analyst ChartNerd said a long-range target of $1.80 is still in play, but the setup depends on a clear break above resistance. The chart view in the report points to a converging triangle pattern, with higher lows forming underneath and lower highs pressing down from above. That kind of structure can compress price action for a while before a sharp move takes shape. $HBAR to $1.80 is inevitable. Paths have changed, targets haven’t. Mark the low, base build, expand. pic.twitter.com/BL7DWmHH9m — 🇬🇧 ChartNerd 📊 (@ChartNerdTA) April 1, 2026 Technical Setups Point Both Ways The report also says the chart lines up with an Elliott Wave-style move, with the latest leg appearing to finish near support. Momentum readings were described as having come out of oversold territory before, which traders sometimes treat as a sign that a rebound could follow. Still, the same setup can fail just as fast if support gives way. ChartNerd stressed that confirmation matters. A decisive push through resistance, backed by stronger volume, would strengthen the bullish case. Without that, the price could keep sliding instead of breaking out. The $1.80 target was presented as a speculative level, not a sure outcome. McLaren Adds A New Use Case The bigger business story in the piece is McLaren Racing’s move onto Hedera’s council. The team, which competes in Formula 1 and IndyCar, brings a fan base spread across more than 180 countries. Hedera says the partnership will include governance work and digital engagement efforts tied to racing events. Related Reading: XRP Could Soon Enter Arizona’s Treasury — Here’s What’s Happening Reports say the collaboration also includes blockchain-based collectibles connected to major race weekends, with more launches planned through the 2026 season. The idea is to use Hedera’s network for secure digital experiences while pulling more sports fans into blockchain products. That gives the project a real-world angle at a time when traders are still focused on the chart. Featured image from Unsplash, chart from TradingView