HBAR Price May Outperform in a Bull Run: Dual Indicator Analysis

Recently, the price of Hedera (HBAR) has rebounded alongside the general rise in cryptocurrency, with an increase of over 5% on Friday. Due to two key signals, it may outperform its peers in the coming days.

Whales accumulate, optimistic about price upward movement.

In the past week, large holders (whales) of HBAR have significantly increased their positions. From August 16 to 23, the number of accounts holding over 1 million tokens rose from 82.41 to 84.09, and the number of accounts holding over 10 million tokens increased from 106.59 to 107.86. At the current price of $0.25, the increase in the 1 million range is 1.68 million tokens ($420,000), and the increase in the 10 million range is 1.27 million tokens ($317,500). This indicates that whales have strong confidence in the price increase of HBAR.

RSI divergence, releasing positive signals

At the same time, the technical indicators are showing positive changes. From August 19 to 22, the price of HBAR dropped from $0.23 to $0.22, but the Relative Strength Index (RSI) rose from 43 to 51. This bullish divergence indicates that although the price is weakening, the potential demand is actually increasing, as buyers take advantage of the dip to accumulate, in line with whale accumulation.

Price Trends and Key Levels

The current price of HBAR is approximately $0.25. To achieve a strong rebound, it needs to break through the resistance level of $0.27. If successful, it is expected to surge towards $0.30 and higher. Conversely, if it falls below the support level of $0.22, the price may further drop to $0.15, with hardly any technical support along the way.