- Hedera (HBAR) rises 28% on weekly gains amid accumulating bullish momentum on spot and futures markets.
- Accumulation by whales and rising trading volume show rising institutional buying interest in HBAR.
- A technical breakout from the triangle pattern suggests a possible rally towards the $0.21–$0.29 resistance area.
- Analysts note the coin’s bullish positioning while Bitcoin spearheads the market transition to a new all-time high of $118K.
Hedera (HBAR) is picking up positive momentum in the altcoin sphere and experiencing an increment in its price with the overall market. Its price has moved slightly downward over the last 24 hours, but over the last week, its price is aggressively up by 28.46%.
However, the general market trend has now shifted from bearish to bullish. The reason behind this scenario is the surge in BTC’s price. Bitcoin has turned its previous ATH into support and touches its new ATH at $118,000.
HBAR is currently trading at $0.1967 with a 24-hour trading volume of $706.4 million, down by 12.98% over the last 24 hours, and a market capitalization of $8.34 billion.
Also Read: Hedera (HBAR) Builds Momentum With $0.4 Bullish Target Ahead
HBAR Eyes $0.29 as Buying Pressure Grows
A prominent crypto analyst, Mark, highlighted that Hedera (HBAR) is gaining renewed interest from major players, and there are clear indications of rising upward momentum building speed on spot and derivative exchanges. Fresh data reveals growth among whale holdings and an unmistakable spike in trading volume on spot and futures exchanges, classic leading precursors to higher prices.
The ultimate future fight on the radar for HBAR falls between $0.21 and $0.29, a resistance point that previously capped rallies to higher prices during previous consolidations.
HBAR Primed for Surge as Whale Activity Spikes
Technical arguments are strong. HBAR has just escaped an old triangle setup, which looks like an indication of breakout bias. However, earlier attempts to rally through the $0.21–$0.29 level have been ruthlessly sold off each time. This time, however, things seem to be different. Meanwhile, large-volume buy orders indicative of whale wallets have come up, and this means that large or high-net-worth investors are coming back confidently this time.
In simpler terms, big buyers are coming back to HBAR, and traders are positioning for upside. When these two signals align, strong whale activity and rising futures volume, the historical pattern often leads to notable price increases.
While a clean break above $0.29 is needed to confirm a full bullish continuation, momentum is clearly shifting in HBAR’s favor. If buying pressure persists, analysts say the altcoin could be on the verge of reclaiming higher levels not seen since the previous cycle’s peak.
Also Read: Hedera (HBAR) Breaks Above $0.169 as Bulls Eye $0.1779 Resistance
Disclaimer: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.
