- Large investors are increasing their holdings of Hedera’s HBAR, suggesting confidence in its future price potential.
- Key technical indicators, including a reset in money flow and a strong support level at $0.23, point towards a potential rally to $0.29.
The cryptocurrency market is currently enjoying a positive wave, with the bullish momentum from giants like Bitcoin and Ethereum spilling over into various altcoins. Hedera’s native token, HBAR, is displaying strong signs of accumulation by major investors.
Following a minor price correction, HBAR has already demonstrated resilience by bouncing back above the $0.23 mark. This renewed demand from influential whale wallets could be the catalyst that propels the rally further in the coming days, exciting investors and analysts alike.
Why HBAR Could See Further Gains and What to Watch For
A key indicator of HBAR’s bullish outlook is the remarkable surge in holdings by mega whale wallets controlling over $10 million worth of HBAR. Data from July 9 to July 15 reveals that the share of HBAR held by these large entities jumped from 81.72% to an impressive 87.56%.
This represents the highest concentration of supply in the hands of these powerful investors seen in recent weeks. Such a sharp increase is often interpreted as a strong signal of high-conviction buying. Their actions can influence market dynamics, often preceding major price movements.
Adding to the positive sentiment is the behaviour of the Chaikin Money Flow (CMF) indicator. The CMF measures the buying and selling pressure of an asset over a specific period, oscillating between +1 and -1. A positive CMF indicates accumulation, while a negative value suggests distribution.
During HBAR’s recent rally, the CMF had briefly touched overbought levels, which often precedes a cooldown. However, as of July 15, the CMF has notably reset and cooled off. This reset is a crucial signal because it suggests that the asset has shed enough excess buying pressure, creating fresh room for bulls to initiate another push higher.
HBAR is currently trading just above $0.23, at $0.2311, down 3.59% in the last 24 hours. This $0.23 zone now acts as a critical support level that bulls must defend to maintain the upward trajectory. Should this support hold firmly, the next significant upside target for HBAR is projected at $0.29. This target represents a potential 27% rally from current prices and is identified using the Trend-based Fibonacci extension indicator.
For HBAR, this extension was drawn from a swing low in early April 2025 to its mid-May peak, and then extended from the June 22 retracement. While the $0.23 level is key for short-term validation, a fall below $0.19 would be a more severe blow to the bullish case. This $0.19 level aligns with the 0.618 Fibonacci level, which is often considered one of the strongest support or resistance zones, indicating a critical threshold for HBAR’s bullish momentum.
