The Hedera HBAR cryptocurrency has faced 2% dip in the last 30 days, with crypto whales looking to swoop in and rescue its price. Per whale market data, Whales have added about 127.8 million HBAR worth nearly $26.8 million in the last 48 hours. Currently, the asset is trading at $0.2208, but could see a further dip of 10% if it falls any further.
Whale addresses holding more than 10 million HBAR have increased from 129.18 to 130.96 recently. Meanwhile, wallets with over 100 million HBAR grew from 38.46 to 39.56 since October 6. That’s roughly 127.8 million HBAR — at minimum — added by whales, worth around $26.8 million at the current HBAR price.
HBAR Prices are testing the lower trendline near $0.21, a key support zone that has held multiple times since late September. If the coin’s price dips below $0.21, the next downside targets lie at $0.20 and $0.19, marking a 10% dip from current levels. The zone around $0.20 could offer temporary support, but $0.19 remains the critical level to watch. Should the whale buy spark a slight rebound, it could send HBAR back towards $0.25 and away from the former danger zone.
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Despite the dip in the past month, Hedera HBAR has exited a 3-month consolidation phase, reclaiming $0.22 with improving momentum. Adding to this, the Bull-Bear Power (BBP) indicator — which compares buyer and seller strength — has turned red again. A correction followed the last red shift on Sept 4 before bulls managed a short-lived recovery.
In addition, another potential spark for Hedera (HBAR) price to climb is the growing optimism of an HBAR ETF launch. Finalized filings for a spot HBAR ETF signal imminent SEC approval post-U.S. government shutdown. Should the HBAR ETF come by the end of the year, it could catapult the cryptocurrency’s price sky-high immediately, similar to BTC and ETH’s spike following their ETF approvals.