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Whale Activity Sparks Bullish Momentum in HBAR
Recently, there has been a lot of activity from big investors, or whales, in the Hedera (HBAR) ecosystem, signaling possible bullish momentum. Major transactions over $100,000 occurred on December 1 and 2, while large holdings of HBAR have increased, showing strong investor interest. HBAR's price surged by about 47% on December 2, reaching a seven-month high, with trading volume spiking significantly. Accounts that hold between 100,000 and 100 million HBAR have been growing quickly, and those with over 100 million HBAR have increased by more than 20% since August. This means that big investors are getting ready for possible price increases.
HBAR Shows Signs of Potential Growth
Overall, this activity suggests HBAR might trend upward, but investors should stay cautious and watch market developments.
Price Corrections and Key Levels to Watch
HBARUSD showed a minor correction of 15% after a massive rally. Any daily close above $0.420 confirms further bullishness.
Astonishing Weekly Gains for HBAR
HBARUSD gained more than 210% in the past week. The pair holds above the short-term (34 and 55 EMA) and long-term moving averages in the 4-hour chart. It hit a high of $0.3920 at the time of writing and is currently trading around $0.3510.
Critical Support and Resistance Zones
The bullish invalidation can happen if the pair closes below $0.190. On the lower side, the near-term support is $0.320. Any close below targets 0.250/\0.190. The pair's near-term resistance is around $0.42. Any breach above confirms minor bullishness. A jump to 0.50/\0.60 is possible. A surge past $0.60 will take it to 0.80/\1.
Strategic Buying Opportunities Ahead
It is good to buy on dips around $0.300 with a stop loss of around $0.190 for a target price of $0.60.
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