Hedera rose to a three-year high of $0.369 on Dec. 7 gaining over 120% in the last seven days while bringing its market cap to over $12.78 billion.$BNB
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Recent developments have also drawn the attention of whales. Data from HederaWatch reveals a sharp increase in accounts holding between 100,000 and 100 million HBAR.
Particularly notable is the growth in accounts holding over 100 million tokens, which has increased by over 20% since August.#SUSHI2025Plans
Meanwhile, retail interest in HBAR has surged over the past weeks, as indicated by Google Trends data. This uptick in interest aligns with the HBAR Fear and Greed Index data from CFGI, which currently stands at 84, signaling extreme greed.
Based on these metrics, traders appear eager to capitalize on potential gains, further driving HBAR’s price momentum.
HBAR has strong technicals
On the daily chart, HBAR’s price floats high above the 50-day and 200-day exponential moving averages, indicating that bulls are still in control, which is adding to the buying pressure that has driven the recent gains.
The Moving Average Convergence Divergence indicator confirms this trend, with both the MACD line positioned above the signal line and pointing upwards, suggesting a strong bullish trend.
At press time, HBAR was trading at $0.34, and based on the positive signals, the next likely target for the token could be the $0.40 psychological resistance, beyond which it would look to secure the $0.45 mark.
However, according to analyst WSB Trader Rocko, HBAR could rally to $0.576—a potential 70% jump from its current price levels