HBAR drops 3.85% to $0.07 as whales load, retail exits

HBAR fell 3.85% to $0.07 on Aug. 29, breaking below its 7-day and 200-day moving averages at $0.08 as whale accumulation diverged from retail selling. The single-session drop pushed the native token of the Hedera network beneath both its short-term trend average and its longer-term structural average at once, flipping the $0.08 level from support to resistance.

Derivatives data from Coinglass shows top traders running 60.2% long against 39.8% short, a 1.52 ratio that marks a decisive directional bet rather than a hedge. That stance stands against a flat retail crowd, where the global long/short ratio sits at 1.07 with just 51.6% of accounts long. The taker buy/sell ratio of 1.18 on a one-hour basis shows aggressive market buyers outpacing sellers by nearly 20% in raw volume, even as the price prints red.

Open interest rose 2.55% over the past 24 hours while price dropped 3.85%, pointing to new shorts added into the decline. If $0.07 holds and any positive development emerges — a Bitcoin leg up, a DeFi narrative ignition, or an enterprise adoption headline for Hedera — that short interest becomes fuel for a squeeze. The technical picture is mixed but cautionary: the MACD histogram sits at exactly zero, RSI at 54 keeps the asset clear of oversold territory, and the Stochastic oscillator shows %K at 46 crossing above %D at 37, a nascent momentum shift. The Bollinger Band setup at a %B reading of 0.61 places price just above the midline, with the upper band at $0.08 and lower band at $0.06 defining a tight $0.02 range.

The $0.07 zone is double-stacked support where immediate and strong support levels converge. A reclaim of $0.08 — the confluence of SMA7, SMA200, immediate resistance, and the upper Bollinger Band — represents roughly a 14% move from current levels and reopens the path toward $0.09 to $0.10 on momentum. A break of $0.07 on volume leaves no significant technical floor until the lower Bollinger Band at $0.06, a further 14% drawdown that would likely shake out the light long exposure building now. The next 24 hours are binary: either $0.07 is the floor that launches the next leg, or it is the last known address before a deeper capitulation. Bitcoin's direction in the next 12 hours likely decides which path HBAR takes, given the token's sensitivity to BTC correlation across the Layer-1 space.

This article is for informational purposes only and does not constitute investment advice.