HBAR is up nearly 50% this week - Is the next price target 0.7 USD?

The strong bullish trend of Bitcoin and Ethereum seems to have spread to altcoins, with HBAR recording promising signs of Accumulation.

After a slight correction, the price of HBAR has recovered and surpassed the $0.23 mark, while the increase in demand from whales could create strong momentum, pushing the price higher in the coming days.

Giant whales accumulate

The "giant" whales are accumulating HBAR at the fastest rate this month, a promising signal. According to data from the Hedera whale tracking tool, whale wallets holding over $10 million in HBAR have recorded a significant increase from 81.72% to 87.56% in the period from July 9 to July 15. This is the highest holding ratio of whales in recent weeks.

This strong increase not only reflects the solid confidence of major investors in HBAR but also signals the expectation that prices will continue to rise in the future. As these "giant whales" rapidly increase their holdings, it is a sign of confidence in the asset's growth potential, and it may hint at predictions regarding insider information that could drive the upcoming bullish trend.

Giant whales accumulating HBAR | Source: HederaWatch## The flow of funds cools down

The Chaikin Money Flow indicator (CMF) is cooling down, opening up opportunities for the next breakout of HBAR. The CMF indicator, which tracks volume and the direction of money flow in and out of assets, had reached a slight overbought level during HBAR's recent bullish run. However, as of July 15, the CMF indicator has cooled down, indicating that this asset may have been adjusted enough for the buyers to continue pushing the price higher.

The decrease in CMF has caused the price of HBAR to adjust by more than 9% daily, but this index quickly recovered and is now trading above $0.23. When CMF shifts to a neutral level after the price cools down, it is often a sign that paves the way for the next breakout. This can be further reinforced as whales continue to accumulate, creating a picture full of potential for a new bullish phase.

CMF is cooling down | Source: TradingView## Current price status of HBAR

In the past week, HBAR has seen an increase of 49%, reaching a value of $0.23 despite a slight correction during the day amidst the overall market context. This milestone has raised the total market capitalization of HBAR to nearly $10 billion, while the trading volume in the past 24 hours has exceeded $1 billion. Currently, the circulating supply of HBAR stands at 42 billion.

A part of this growth is thanks to Lloyds Bank and Aberdeen Investments starting to use the Hedera network for a new type of financial transaction. Bloomberg reported that this transaction is a digital representation of Aberdeen's money market funds along with UK government bonds, all of which are issued, transmitted, and stored on the Hedera blockchain. This process fully complies with current legal regulations and financial standards in the United Kingdom.

Hedera is not only focused on the financial sector but has also expanded into AI applications in the public sector. Recently, on June 11, the Hedera Foundation announced a collaborative project with Accenture and EQTYLab to develop a system that helps public agencies implement AI in a transparent and easily monitored manner. These tools will run on the Hedera platform, creating an infrastructure that allows agencies to easily track and verify the automated decision-making process of AI.

This project has the potential to usher in a new era for AI applications supported by blockchain in government, thereby enhancing accountability and public information transparency.

Bullish Potential

The current level of $0.23 is playing a crucial role as a support level that the buyers need to maintain to keep the bullish momentum.

The next bullish target for HBAR is predicted to be $0.29, which corresponds to a 27% increase from the current price. This price level is determined using the Fibonacci extension indicator in a trending market, a popular tool for predicting potential resistance levels in the future. The Fibonacci indicator helps traders estimate where selling pressure may appear, based on past price movements.

In the case of HBAR, the Fibonacci level is calculated from the strong rally at the beginning of April 2025 to the peak in mid-May, and then extends from the retracement level on June 22. This indicates that the $0.29 level is a feasible target if the bullish trend continues.

HBAR 1-Day Price Chart | Source: TradingViewHowever, if the HBAR price drops below $0.23, the bullish trend will lose some of its strength. A true reversal will only occur if the price falls below $0.19, which corresponds to the Fibonacci level of 0.618 – a very strong support/resistance area and often a decisive point in maintaining or reversing the trend.

Moreover, HBAR has broken through the descending wedge pattern, a signal often seen before strong price fluctuations. This breakout occurs with a significant increase in trading volume, indicating a strong entry of investors after a long period of weak trading. According to the analysis of STEPH IS CRYPTO, if this trend continues, the price level of $0.7 could be the next short-term target.

The weekly closing price above this resistance level could drive the current growth momentum, bringing HBAR into a more intense volatility cycle. According to data from Coinglass, HBAR also recorded strong capital inflow, with a net purchase of 5.11 million USD in the past 24 hours — this is the largest figure in the past six months.

In addition, STEPH IS CRYPTO also predicts that the likelihood of the HBAR spot ETF being approved in 2025 is up to 90%, creating a new wave of investment in the crypto community.

Lilly