HBAR Whales Quietly Buy the Dip While Retail Turns Bearish; Rally Ahead？

Despite a sharp 10% correction from its five-month high, Hedera (HBAR) price is starting to show signs of internal strength that could set the stage for a surprise bounce.

While retail traders continue to short the asset, data reveals whales have been quietly adding to their stacks, hinting that the recent dip might be more of a shakeout than a breakdown.

Whales Accumulate, Netflows Validate

HBAR price may be down from its $0.30 high, but big players are seeing it as a buy-the-dip opportunity. Since July 20, the number of wallets holding at least 1 million HBAR has jumped almost 5%, and those with 10 million or more are up almost 4.5%. That kind of activity from whales usually signals quiet accumulation, not panic.

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HBAR whales accumulating: Hedera Watch

What confirms this move？ Spot exchange netflow.

The spot netflow chart suggests that in July, exchanges have predominantly seen HBAR outflows, hinting at growing accumulation.

HBAR price and netflows: Coinglass

This metric tracks how much HBAR is entering or exiting exchanges. A strong outflow trend means holders are withdrawing tokens, less likely to be sold. In simple terms, whales are buying and moving coins off-exchange, which often sets up bullish conditions.

OBV Momentum Aligns With Whale Buying

The On-Balance Volume (OBV) chart adds another layer of validation. OBV measures the cumulative volume flow, essentially tracking whether volume is coming from buyers or sellers. A rising OBV during a price climb shows real buying support.

HBAR price and rising OBV: TradingView

For HBAR, OBV has been trending higher since early July, and even after the recent dip, it hasn‘t cracked. That’s key. The whale buying and netflow behavior wouldn‘t mean much if volume wasn’t backing it.

But OBV confirms it: the demand behind the scenes is still very much alive. This strengthens the accumulation narrative and hints that the dip may be running out of steam.

HBAR Price Holds Key Support, But Needs a Trigger

HBAR is currently holding just above the 0.236 Fibonacci retracement at $0.26, a level it must protect. Above this, a breakout beyond $0.30 is possible if momentum returns, led by increased whale positioning and outflows. However, $0.26 remains the key support, and a dip under that renders the bullish hypothesis weak.

HBAR price analysis: TradingView

While the above chart captures the broader swing, from $0.12 to $0.30, a birds eye view of the chart also reveals a few key levels that HBAR might need to break in order to inch towards the 5-month high.

HBAR price action and a shorter swing: TradingView

Per the shorter swing chart, $0.28 remains a key level for HBAR to break. And the $0.26 level serves as the key support, aligning with the bigger swing or the primary chart.

All signs point to strength beneath the surface; whales are buying, supply is draining, and OBV hasn‘t broken down. Yet, price hasn’t popped. That suggests the markets waiting on a trigger, possibly a shift in retail sentiment.