- Hedera HBAR fell 2% in the last 30 days as large investors increased their holdings.
- Whales acquired about 127.8 million HBAR, worth roughly $26.8 million, in the past 48 hours.
- HBAR is trading at $0.2208, testing support at $0.21 with a risk of a further 10% price drop.
- Investor optimism is rising due to possible U.S. regulatory approval for an HBAR ETF.
- Bull-Bear Power indicator turns negative, signaling continued volatility for HBAR.
The cryptocurrency Hedera HBAR has dropped by 2% over the past month as of the latest data. Large investors, known as whales, have bought approximately 127.8 million HBAR, with a value of around $26.8 million over the last two days.
According to whale market activity, addresses holding more than 10 million HBAR grew from 129.18 to 130.96 recently. Similarly, wallets with more than 100 million HBAR increased from 38.46 to 39.56 since October 6. The asset now trades at $0.2208, with the potential to decline by another 10% if it moves lower.
Currently, HBAR prices are near a key support level at $0.21, which has held since late September. If the price falls below this point, it could test further supports at $0.20 and $0.19. Experts note that $0.19 is a critical level to watch, while $0.20 may provide only temporary relief. If increased whale buying leads to a rebound, HBAR could climb back to $0.25.
Despite the recent drop, Hedera HBAR has moved out of a three-month price consolidation and returned to the $0.22 level. The Bull-Bear Power (BBP) indicator, which measures the strength of buyers compared to sellers, has recently shifted to negative. A previous similar signal was followed by a correction and a short recovery by bulls.
Another factor drawing investor attention is the potential launch of an HBAR spot exchange-traded fund (ETF) in the U.S. Final filings are pending regulatory approval, which could come soon after the end of the U.S. government shutdown. If approved, the ETF could quickly boost HBAR prices, as happened with previous Bitcoin and Ethereum ETF approvals.
For further analysis, see the external article on the Shiba Inu Timeline.
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