The strong price surge of Bitcoin and Ethereum seems to have spread to altcoins, with HBAR showing promising accumulation signs.
After a slight adjustment, HBAR's price has recovered and surpassed the $0.23 threshold, while the increase in demand from whales could create strong momentum, pushing the price higher in the coming days.
Giant whales accumulating
The 'giant' whales are accumulating HBAR at the fastest rate this month, a promising signal. According to data from the Hedera whale tracking tool, a whale wallet holding over $10 million in HBAR recorded a significant increase from 81.72% to 87.56% during the period from July 9 to July 15. This is the highest holding percentage of whales in recent weeks.
This strong increase not only reflects the solid confidence of major investors in HBAR but also signals expectations that the price will continue to rise in the future. As these 'giant whales' quickly increase their holdings, it is a sign of confidence in the asset's growth potential, and may hint at insider information driving the upcoming price surge.
Cooling cash flow
The Chaikin Money Flow (CMF) indicator is cooling down, opening up opportunities for HBAR's next breakout. The CMF indicator, which tracks the volume and direction of cash flow into and out of an asset, has touched a slightly overbought level during HBAR's recent price surge. However, as of July 15, the CMF indicator has cooled down, suggesting that this asset may have been adjusted enough for buyers to continue pushing the price.
The decrease in CMF has caused HBAR's price to adjust by more than 9% day-to-day, but this index quickly recovered and is currently trading above $0.23. When CMF shifts to a neutral level after the price cools down, it is often a sign that paves the way for the next breakout. This can be further reinforced as whales continue to accumulate, creating a potentially promising picture for the upcoming price surge.
Current price status of HBAR
In the past week, HBAR has seen a 49% increase, reaching a value of $0.23 despite a slight adjustment during the day amid the overall market context. This milestone has raised HBAR's total market capitalization to nearly $10 billion, while the trading volume in the past 24 hours exceeded $1 billion. Currently, HBAR's total circulating supply stands at 42 billion.
Part of this growth is attributed to Lloyds Bank and Aberdeen Investments starting to use Hedera's network for a new type of financial transaction. Bloomberg reported that this transaction represents the digital form of Aberdeen's money market funds along with UK government bonds, all of which are issued, transferred, and stored on the Hedera blockchain. This process is fully compliant with existing laws and financial standards in the UK.
Hedera is not only stopping in the financial sector but also expanding into AI applications in the public sector. Recently, on June 11, the Hedera Foundation announced a collaborative project with Accenture and EQTYLab to develop a system that assists public authorities in deploying AI transparently and in a manner that is easy to monitor. These tools will run on the Hedera platform, creating an infrastructure that allows agencies to easily track and verify AI's automated decision-making processes.
This project has the potential to usher in a new era for AI applications supported by blockchain in government, thereby enhancing accountability and public information disclosure.
Price increase potential
The current level of $0.23 is acting as a key support level that buyers need to maintain to keep the growth momentum.
The next price target for HBAR is predicted to be $0.29, equivalent to a 27% increase over the current price. This price level is determined by using the Fibonacci extension indicator based on the trend, a popular tool for predicting potential resistance levels in the future. The Fibonacci indicator helps traders estimate where selling pressure may appear, based on past price movements.
In the case of HBAR, the Fibonacci level is calculated from the strong surge in early April 2025 to the peak in mid-May, and then extended from the retracement on June 22. This suggests that the $0.29 level is a feasible target if the upward trend continues.
However, if HBAR's price drops below $0.23, the upward trend will lose some strength. A real reversal would only occur if the price falls below $0.19, which corresponds to the Fibonacci level of 0.618 – a very strong support/resistance area and often a decisive point in maintaining or reversing the trend.
Furthermore, HBAR has broken the descending wedge pattern, a sign often seen before significant price volatility. This breakout occurred with a strong increase in trading volume, indicating a strong entry of investors after a prolonged period of weak trading. According to STEPH IS CRYPTO's analysis, if this trend continues, the price level of $0.70 could be the next short-term target.
Closing the weekly price above this resistance level could boost the current growth momentum, putting HBAR into a more volatile cycle. According to data from Coinglass, HBAR also recorded strong capital inflows, with a net purchase of $5.11 million in the past 24 hours — the largest figure in the past six months.
Additionally, STEPH IS CRYPTO predicts that the likelihood of an HBAR spot ETF being approved by 2025 is up to 90%, creating a new wave of investment in the crypto community.