Recent HBAR price declines have prompted large investors to increase their holdings significantly.
Whale Accumulation of HBAR
Since July 20, the number of wallets holding at least 1 million HBAR rose by nearly 5%, with those holding 10 million or more increasing by 4.5%. This indicates accumulation rather than panic selling.
Exchange Flow Dynamics
There has been more HBAR withdrawn from exchanges than deposited, reducing immediate selling pressure. Whales appear to be moving tokens into private storage, a pattern often preceding price rebounds.
Technical Analysis and Forecast
HBAR is maintaining above the $0.26 support level, aligned with the 0.236 Fibonacci retracement. Holding this zone could lead to a retest of $0.30 if whale accumulation continues. However, a drop below $0.26 may weaken bullish projections.
The observed whale activity contrasts with retail sentiment, indicating that the recent dip may be temporary. If accumulation continues, HBAR could experience renewed momentum in the coming weeks.
