NAIROBI (CoinChapter.com)—Ethereum (ETH), Hedera (HBAR), and Bonk (BONK) have seen notable price movements recently, influenced by market-wide liquidations, institutional activity, and whale accumulation. While ETH faces selling pressure despite a rebound, HBAR’s technical indicators remain mixed, and BONK continues attracting speculative interest.
Ethereum Struggles Despite Recovery
Ethereum experienced one of its largest single-day price crashes in the current cycle, dropping nearly 25% before recovering above $2,900. Liquidations across the crypto market exceeded $620 million in the past 24 hours, with ETH traders seeing the highest impact. Coinglass data shows $464 million in long positions and $157 million in short positions were liquidated.
Bybit CEO estimates total liquidations at $8-10B. Source: XBybit CEO Ben Zhou noted in an X post that actual liquidations could be even higher due to API limitations. On-chain data reveals that both short-term and long-term holders contributed to selling pressure, realizing $1.2 billion in losses over the past three days—the highest since Sept. 2023.
Market sentiment turned bearish following President Donald Trump’s tariff increases on Mexico, Canada, and China. Nick Forster, founder of Derive, pointed out that ETH options currently price in a 14% chance of ETH reaching $2,000 before March 28.
Ethereum Daily Transactions. Source: EtherscanAdditionally, ETH dominance has declined to 10.9% from 17.3% at the start of 2024, while daily transactions remain at around 1.25 million, showing stagnation despite the Merge.
7 Siblings” Buy 56,093 ETH During Market Crash. Source: LookonchainHowever, institutional movements and whale accumulation signal potential support. A whale wallet tagged “7 Siblings” purchased 50,429 ETH worth $126 million after the market downturn, per Lookonchain. Moreover, Ethereum exchange-traded funds (ETFs) saw $45.3 million in outflows last week, reflecting shifting investor sentiment.
HBAR Price Rebound or Fakeout? Analysts Predict $3
Hedera (HBAR) plunged 21.51% over the past week, dropping below $0.25, before rebounding 6.78% in the last 24 hours to $0.2522. The price remains at a critical juncture, with technical indicators showing both bearish pressure and potential for a breakout.
HBAR/USD 1-day price chart. Source: TradingViewThe Average Directional Index (ADX) surged to 43.3 from 11.4 in three days, reinforcing the downtrend. The Ichimoku Cloud remains bearish, with price action below resistance. A death cross on the Exponential Moving Average (EMA) lines signals ongoing selling pressure.
However, analysts see a possible reversal. Shawn Sully identified a Cup and Handle pattern, suggesting a rally to $0.57 if HBAR clears $0.40. Birdman expects an incoming golden cross, historically a bullish signal, with targets ranging from $0.66 to $3.
HBAR eyes breakout, targets $0.66 to $3. Source: BirdmanMeanwhile, Crypto Kip believes HBAR’s ISO 20022 compliance could attract institutions and push the price to $5 by 2025.
For now, HBAR must reclaim key resistance to confirm a trend shift. If bullish momentum fades, another drop below $0.25 remains on the table.
BONK Drops 11%—Rebound Incoming or More Pain Ahead?
Bonk (BONK) is trading at $0.00001772, up 1.13% in the past 24 hours, following an 11.09% decline earlier. The meme coin remains trapped in a descending channel, with sellers dominating the market.
BONK/USD 1-day price chart. Source: TradingViewDespite this decline, whale accumulation remains strong. Onchain Lens reported a whale purchasing 124.09 billion BONK worth $4.29 million, suggesting long-term confidence. Analysts expect BONK to double in value by 2025, driven by Solana’s ecosystem growth and memecoin speculation.
Technical indicators remain bearish. BONK must break above the descending trendline to confirm a reversal. If support at $0.00001504 holds, a rebound toward $0.000020 could follow. Otherwise, further downside remains likely.
Ethereum’s price remains under pressure from liquidations and declining dominance, despite institutional accumulation. HBAR faces mixed technical signals, with analysts divided over its next move. Meanwhile, BONK continues to attract whales, reflecting ongoing interest in the memecoin sector.
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