A crypto analyst presents a bullish case for Hedera (HBAR) despite its already impressive performance over the past five weeks. The asset has demonstrated strength, painting consecutive green candles and securing nearly 500% gains during this period, pushing the token close to its historical peak.
Shawn on X believes the rally might just be getting started. According to his assessment, significant whale activity suggests an impending supply shock that could drive HBAR’s value even higher.
He emphasizes that large holders are actively removing their tokens from exchanges, a behavior typically associated with long-term accumulation strategies.
The crypto analyst points to a particularly compelling metric: the declining exchange supply. He notes that HBAR is being consistently withdrawn from trading platforms, creating a potential supply squeeze. This situation, as per his analysis, could trigger an even more parabolic price movement when demand outpaces the available supply on exchanges.
Shawn’s outlook suggests that investors might soon face limited opportunities to acquire HBAR at current price levels as the supply-demand dynamics continue to shift in favor of higher valuations.
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The price of HBAR has been trading below a key resistance level at around $0.26. The price is currently struggling below this level. We must see a definitive breakout for the chance of a continued rally.
If this key level continues to hold, then the price could see some retracement before the rally continues.
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The post Hedera Metric Suggests HBAR Price Could Still Skyrocket Despite Recent Spikes—But There’s a Catch appeared first on CaptainAltcoin.
