The HBAR whale accounts have been increasing despite HBAR prices falling. As shown in the chat below, the accounts holding 10M HBAR increased since December 2024. When considering the percentage change of the account since June 5, the chart shows an increase of 18%. In early June, the whale account trend change was 68% and as of the present, it is at 96%.
The interesting this about this whale accumulation is that, despite HBAR prices falling, the whales never stopped accumulating. So what’s causing the whales to go on a buying frenzy? Let’s take a look at the prices.
HBAR price falls, but why are the whales accumulating?
Co-founder of “The Moon Show” NFT collection, Carl Moon, spotted a falling wedge on the HBAR hourly chart. As expected from a falling wedge, the token broke out and is reaching higher altitudes. Moon predicts that the price could hit $0.30250. However, at press time, Herdera is priced at $0.246, after the token crashed from $0.3 since Sunday.
On the four-hour chart, HBAR is trading inside an ascending triangle. In an ascending triangle, the top or the resistance level is horizontal, while the bottom is slanted.
The higher lows on the lower trend line show buyers stepping in and increasing the demand. With the buying pressure building, the token tests the resistance level, but fails to break through. However, with the pressure building, there will be a threshold point after which the bears won’t be able to hold the raging bulls. At that moment, the prices will break the resistance, and HBAR could reach $0.372. So maybe the whales see the long-term price potential in Hedera and are accumulating the token.
What is Hedera (HBAR)?
Hedera (HBAR) is an enterprise-grade public network that helps individuals and businesses build dApps on the network. The network aims to address the slow performance and instability that older blockchains have experienced.
