Hedera Defies September Storm: Analysts Eye Potential Gains in October
In the last day, Hedera (HBAR) has gone down over 1.85%, trading near $0.2228. Even yet, the token has gained a meager 1.44% in the last month, demonstrating that it has fared better than many of its rivals throughout September’s storm. The HBAR price may be getting ready for a brief but significant rebound as “Uptober” begins.
HBAR Whales Accumulate Over $186M in a Week
As momentum, whales, and chart structure all line up, a 12% spike may be imminent. Since late September, HBAR whales who now own between 10 million and 100 million HBAR tokens have increased their holdings. The number of large wallets with more than 10 million tokens increased from 122.33 to 128.17 between September 25 and October 3. Thus, there were 38.46 wallets with more than 100 million tokens, up from 30.76.
At the current HBAR pricing, that translates to a minimum injection of $186.3 million, or at least 828 million HBAR added in just over a week. Since these addresses frequently surpass the threshold, the true number may be much higher. Whales are getting ready for an upward movement, as indicated by this consistent inflow. This notion is supported by momentum on the 4-hour chart. A golden crossover is imminent as the 20-period EMA approaches the 100-period EMA.
HBAR Eyes $0.257 Breakout: Could This Trigger a 12% Surge?
The possible future course is delineated by the ascending channel in which HBAR is currently trading. The $0.230–$0.237 range is the immediate resistance zone. A rise above $0.257, or a 12% increase from the present HBAR price, can be initiated with a breakout over this level. Beyond $0.237, important HBAR price levels that could serve as milestones for purchasers are $0.245 and $0.252. Support on the downside lies between $0.222 and $0.219, guarding against pullbacks if the move slows. As of right now, the HBAR price structure indicates that Uptober might provide a defined bounce rather than a sustained rise.
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