Hedera’s HBAR token has climbed more than 5% as part of the broader market rally, and fresh data suggests the momentum may only be beginning.
Two factors — growing whale accumulation and a bullish divergence on momentum charts — point to a stronger outlook compared to peers.
Whales Quietly Add to Positions
Large HBAR holders have been steadily increasing their stakes. On-chain data shows that wallets with at least 1 million tokens rose from 82.41 to 84.09 between August 16 and August 23, while those in the 10 million band ticked up from 106.59 to 107.86. At current prices around $0.25, this represents millions of dollars in added exposure, signaling confidence in further upside.
RSI Divergence Strengthens the Case
The accumulation trend is backed by technical momentum. Despite prices dipping from $0.23 to $0.22 between August 19 and 22, the Relative Strength Index climbed from 43 to 51, a bullish divergence that indicates buyers were quietly absorbing supply even as spot prices slipped.
Key Levels to Watch
HBAR currently trades near $0.25. Breaking resistance at $0.27 could set the stage for a push toward $0.30, potentially allowing the token to outperform the broader market. Failure to hold above $0.22, however, risks exposing the price to deeper declines, with $0.15 seen as the next major support.
Together, the whale buying and improving RSI suggest HBAR’s latest pause may be less about fading momentum and more about building a base for the next move higher.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/market/hedera-whales-are-buying-big-is-a-breakout-to-0-30-next/