Hedera (HBAR) has joined the broader crypto rally, experiencing an increase of over 5% on Friday. While many assets are reacting to optimism concerning potential September rate cuts, two significant signals suggest that HBAR may outperform its peers in the coming days.
One group’s accumulation pattern and a bullish technical indicator are showing supportive signs.
Whale Accumulation Strengthens Outlook
In the past week, large HBAR holders have been expanding their positions. Accounts holding at least 1 million tokens increased from 82.41 on August 16 to 84.09 on August 23. Similarly, the count for the 10 million token band rose from 106.59 to 107.86 during the same timeframe.
At the current HBAR price of $0.25, this increase indicates a minimum addition of 1.68 million tokens ($420,000) in the 1 million band and 1.27 million tokens ($317,500) in the 10 million band.
The continuous accumulation reflects quiet confidence among whales, suggesting expectations of further price increases.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
RSI Divergence Adds Another Bullish Layer
The whale accumulation is being corroborated by momentum indicators. Between August 19 and August 22, HBAR’s price dipped from $0.23 to $0.22, marking a lower low on the chart.
However, during this same period, the Relative Strength Index (RSI) — a momentum indicator that tracks buying and selling pressure balance — increased from 43 to 51 on the lower end.
This bullish divergence implies that while price movements suggested weakness, underlying demand was actually improving. Simply put, buyers were effectively absorbing supply even as spot prices fell, reinforcing the accumulation trend seen among whales.
The combination of increasing whale holdings and a rising RSI indicates a strengthening conviction in the market, implying that the recent lull may be more of a foundation for the next upward move rather than a sign of waning momentum.
HBAR Price Action And Key Levels
The HBAR price is currently hovering around $0.25, maintaining above immediate support. For a stronger rally, it must surpass resistance at $0.27. A successful breakout could elevate the price towards $0.30 and beyond, potentially outperforming the overall market.
Conversely, failure to maintain support could lead to downside risks. A drop below $0.22 may expose the price to further declines, with little technical support until $0.15.
The post Two Metrics Hint Why HBAR Price Might Outperform The Bull Market appeared first on BeInCrypto.
