Recent data indicates that large holders of HBAR tokens are actively increasing their positions. This may suggest a positive outlook for this cryptocurrency.
Whales Increase Their Positions
Large HBAR holders are steadily increasing their stakes. On-chain data shows that wallets with at least 1 million tokens rose from 82.41 to 84.09 between August 16 and August 23. Meanwhile, those in the 10 million band increased from 106.59 to 107.86. At current prices around $0.25, this indicates a significant added exposure.
Technical Indicators and RSI
The accumulation trend is supported by technical indicators. Despite prices dipping from $0.23 to $0.22 between August 19 and 22, the Relative Strength Index (RSI) climbed from 43 to 51. This bullish divergence suggests that buyers were quietly absorbing supply even as spot prices slipped.
Key Levels to Watch
HBAR currently trades near $0.25. Breaking resistance at $0.27 could pave the way for a push towards $0.30, allowing the token to outperform the broader market. However, failure to hold above $0.22 risks exposing the price to deeper declines, with $0.15 seen as the next major support level.
Thus, the increase in whale accumulation and the improving RSI signal that HBAR's current pause may be more about building a base for the upcoming upward movement.
