Hedera (HBAR) Turns to Whales to Save Price From a 10% Dip
Hedera (HBAR) hasn’t managed to register respectable October (‘Uptober’) positive factors like another main altcoins, together with ETH and BNB. The token is down almost 6% over the previous 24 hours, exhibiting rising weak spot on shorter timeframes. Even with a 1.4% acquire previously seven days, the general HBAR worth pattern nonetheless doesn’t lean fully bullish.
Despite that, massive holders proceed to add to their stacks — even because the broader market sentiment stays cautious.
Whales Accumulate as Smart Money Steps Back
On-chain information reveals a clear divide between long-term whale accumulation and short-term dealer warning.
Addresses holding greater than 10 million HBAR have increased from 129.18 to 130.96, whereas wallets with over 100 million HBAR grew from 38.46 to 39.56 since October 6.
That’s roughly 127.8 million HBAR — at minimal — added by whales, value round $26.8 million on the present HBAR worth.
This quiet shopping for from whales usually indicators accumulation throughout uncertainty, serving to forestall steeper selloffs. But the optimism stops there.
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The Smart Money Index (SMI) — which tracks exercise from traditionally profitable merchants — has flattened after dropping from its October 6 native peak. This means high-confidence traders are now not positioning for a fast HBAR price rebound.
Such divergence between whale accumulation and sensible cash retreating often suggests a interval of sideways or downward motion.
In easy phrases, whales is perhaps shopping for dips for the long run, however the absence of aggressive sensible cash indicators that near-term worth restoration seems to be unlikely.
HBAR Price Chart Shows Rising Wedge Risk
On the 12-hour chart, HBAR trades inside a rising wedge sample, sometimes thought-about bearish. Prices are testing the decrease trendline close to $0.21, a key help zone that has held a number of occasions since late September.
If $0.21 breaks, the following draw back targets lie at $0.20 and $0.19, marking a potential 10% dip from present ranges. The zone round $0.20 may supply short-term help, however $0.19 stays the crucial degree to watch.
Adding to this, the Bull-Bear Power (BBP) indicator — which compares purchaser and vendor energy — has turned purple once more. A correction adopted the final purple shift on Sept 4 earlier than bulls managed a short-lived restoration.
For now, the bears stay in management. A each day or 12-hour candle shut above $0.23 would invalidate this bearish construction and trace at renewed energy.
Until that occurs, HBAR’s greatest hope for avoiding a deeper correction lies with continued whale accumulation — and a change in sentiment from sensible cash.
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