Hedera’s HBAR token shows signs of a potential 27% price surge toward $0.29 if it maintains support above the critical $0.23 level. This bullish scenario gains credibility from substantial whale accumulation and favorable technical indicator resets.
Recent on-chain data reveals a significant consolidation pattern among major holders, with wallets containing $10 million or more in HBAR increasing their collective holdings from 81.72% to 87.56% of circulating supply within days. This whale accumulation signals strong institutional confidence and reduced selling pressure.
Simultaneously, the Chaikin Money Flow (CMF) indicator has reset to neutral territory following a short-term price correction. This technical reset creates favorable conditions for renewed bullish momentum in the absence of overbought signals.
Currently trading just above $0.23, HBAR faces decisive price action: Holding this support could spark an advance toward $0.29. Critical secondary support remains at the 0.618 Fibonacci retracement level, providing stability even if prices dip marginally below $0.23.
Market observers highlight the combination of whale accumulation and CMF normalization as significant catalysts that could propel HBAR into its next growth phase.