Can HBAR Price Hit $0.29 After Whale Accumulation and NVIDIA Partnership?

Key Insights:

• Whale accumulation and futures volume spikes are driving HBAR price toward $0.29.
• Hedera launches world’s first AI audit tool with NVIDIA and Intel integration.
• A bullish trend may be affirmed by the formation of higher lows at short-term charts with the breakout at $0.21.

HBAR price surged 27.3% this week, lifting it near $0.20 and reigniting bullish momentum. With the buying pressure, analysts now show the next breakout point at $0.21, followed by a glimpse of $0.29. This recent rally comes after robust whale accumulation, increasing futures volumes, and a major enterprise partnership with NVIDIA and Intel.

HBAR Price Targets $0.29 After Accumulation

HBAR price increase has been backed by technical strength and institutional activity. On-chain analysts confirmed whale accumulation in early July when large volume orders were spotted on significant exchanges. Volume rose sharply alongside price action, lifting HBAR price from $0.155 to $0.197 within seven days.

CryptoQuant data showed positive futures cumulative volume delta (CVD), meaning takers are buying long positions. Futures traders are now mostly bullish, reinforcing the uptrend. Whale buying during consolidation zones has historically preceded breakouts. Bids are currently stacked at $0.18-0.20, making up a sharp accumulation base.

Analyst Mark Chadwick identified the $0.21-$0.29 range as a resistance area on past unsuccessful breakouts. He noted that breaching $0.21 could signal continuation. This price level capped rallies multiple times in Q2. In case bulls turn this line into support, it has the potential to open the $0.29 target.

In addition, spot buying is being accompanied by futures interest today, something that precedes long runs. Technicals also showed higher lows forming consistently. RSI is not overbought, and there is still scope to rally further, should the demand stay above $0.19.

HBAR Infrastructure Expands With First AI Audit Launch

Hedera recently launched the world’s first verifiable compute-based AI audit tool. This system was developed in integration with NVIDIA and Intel. It allows every AI operation to be logged immutably using Hedera’s public network.

This innovation tackles rising concerns about AI decision transparency. As black-box models prevail, auditable models are in demand by business organizations and regulators. Hedera now offers a trust layer backed by physical compute validation and distributed ledger technology.

Interestingly, verifiable computing makes the fact that no output can be manipulated after processing. The use of Hedera for audit trails ties HBAR utility directly to enterprise infrastructure. HBAR could experience more network utilization as demand in auditable AI increases.

This development expands Hedera’s utility beyond token transfers or DeFi. It makes the network a service provider of real-world stacking. In the mind of analysts, this integration offers a basic propellant of long-term accretion of HBAR values.

Businesses that consume the tool will require HBAR to make payments for bandwidth and compute logs. That use case strengthens token demand alongside speculative interest.

HBAR Price Tests $0.21 Resistance

Trading volume for HBAR price jumped 69.6% in the last 24 hours, reaching $869 million. The weekly chart showed a clean trend shift with HBAR price forming a stair-step pattern. The current price is consolidating around the $0.197 mark, just below  $0.21.

Remarkably, this level is critical. It aligns with past rejection zones during triangle consolidation. Should the bulls regain the $0.21 level, the price might rapidly gain momentum to reach the range of $0.26-$0.29. These are the last resistances before reversing the whole trend.

On the seven-day view, Hedera price has risen over 27%, marking one of the strongest performances among Layer 1 tokens this month. The circulating supply is less than 43 billion HBAR, giving a manageable float as demand increases.

Historical Whale Accumulation Trends

Meanwhile, the past HBAR rallies have been preceded by subdued accumulation and subsequently a vertical surge. The modern trend coincides with that of 2021, when whale purchasing and integrations of technology resulted in a price surge. Analysts confirmed that accumulation began just before Bitcoin‘s July bounce.

Some traders, such as Fresh XBT, have expressed long-term goals beyond the $1 and even above the $10 levels. While speculative, this showed growing community confidence. The pricing format takes after the bullish formations observed in the initial stages of the 2021 rally.

The current breakout was validated by a bullish engulfing candle on the daily charts around the same price of $0.19. Volume clusters form between $0.185 and $0.195. These areas serve as support in short-term pullbacks.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.