Amid positive momentum in the cryptocurrency market, Hedera's HBAR token is showing increased interest from major investors. Analysis indicates this may suggest further price growth.
Increase in HBAR Holdings by Major Investors
In recent days, significant increases in HBAR holdings among large investors have been observed. From July 9 to July 15, the share of HBAR held by wallets with assets over $10 million rose from 81.72% to 87.56%. This represents one of the highest levels of asset concentration among major investors in recent weeks.
Technical Indicators and Support at $0.23
After a slight price correction, HBAR has bounced back above the $0.23 mark, which is now a critical support level. The Chaikin Money Flow (CMF) suggests significant accumulation, indicating potential for further price increases. As of July 15, the CMF had notably reset, creating conditions for a new bullish momentum.
Future Prospects for HBAR and Potential Targets
If the $0.23 level holds, the next target for HBAR could be the $0.29 mark, suggesting a potential 27% increase from current prices. Related indicators, such as the Trend-based Fibonacci extension, imply that a drop below $0.19 may negatively impact the bullish outlook.
Thus, the current situation surrounding HBAR indicates increasing interest from major investors and suggests potential significant price growth if key support levels are maintained.
