HBAR Eyes $0.118 Breakout After Whales Gobble Up $53 Million Stake
Hedera's native token is knocking on a critical price ceiling, fueled by a single, massive bet.
The Whale Move That Changed Everything
Forget retail sentiment—a single entity just parked over $53 million in HBAR. That's not a trade; it's a statement. This kind of accumulation doesn't happen by accident. It's a calculated position, the kind that makes chart patterns bend and market makers sweat. It screams conviction in the underlying network's utility, not just speculative fever.
Why $0.118 Isn't Just Another Number
Markets have memory. That $0.118 level isn't a random line on a chart; it's a battleground where previous rallies have stalled and turned. Breaking it cleanly signals a fundamental shift in supply and demand dynamics. It tells every algorithm and trader watching that the old resistance is now the new floor—a classic technical breakout that opens the path for a significant leg up.
The Real Story Behind the Charts
This isn't just about price. It's about validation. A $53 million bet is a vote of confidence in Hedera's enterprise-grade ledger—its speed, its governance, its real-world adoption in everything from supply chains to carbon markets. While other chains hype vaporware, Hedera quietly onboards Fortune 500 companies. The price action might just be catching up to the network's fundamentals.
Of course, in crypto, a 'fundamental' is often just a compelling narrative until the next whale decides to cash out. But for now, the momentum is undeniable. Keep your eyes on that line in the sand.
HBAR Could Break $0.118 to Lead the Rally to $0.14
However, the crypto analyst, Crypto Pulse, highlighted that the Hedera Hashgraph (HBAR) is very close to a resistance point priced at $0.118. Once this resistance is overcome, a breakout will begin, and the prices will move to $0.124 and further to $0.13 or even to $0.14. The moment is approaching when prices will start rising further.
Source: X
Traders are also closely monitoring the level of $0.118, which may set the tone for the subsequent price movements. Failure to pass through the resistance level may cause the price to reject, sinking to its lower support levels. However, breaking through the resistance will boost bullish momentum, resulting in a possible rally.
Technical Outlook Suggests Bearish Dominance
Technically, the price is still in a downtrend below the 20-week SMA at approximately 0.176. The HBAR is moving towards the lower Bollinger Band at 0.087. Volatility is expanding, and there is resistance at 0.17 to 0.18 and around 0.26. The latest weekly charts indicate weak buying pressure and failed bounce attempts.
Source: TradingView
Momentum indicators also reflect weakness. RSI is near 34, bordering the oversold region with weak, tentative purchasing activity. MACD continues in the red with a weakening histogram, supporting the bearish view. While a minor relief rally may occur, a likely reversal of trends WOULD require a return above the weekly SMA with RSI above 40.
Also Read: Hedera (HBAR) Targets $0.19 After CME Feed Launch and GBBC Collaboration
