Ethereum (ETH), Hedera (HBAR), and Bonk (BONK) See Notable Price Swings Influenced by Market-Wide Liquidations, Institutional Activity, and Whale Accumulation

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 (ETH), Hedera (HBAR), and Bonk (BONK) prices have been influenced by market-wide liquidations, institutional activity, and whale accumulation recently. Here's a closer look at each.

Ethereum Faces Selling Pressure Despite Recovery

Ethereum experienced one of its largest single-day price crashes in the current bull cycle, dropping nearly 25% before rebounding to trade above $2,900. Liquidations across the crypto market surpassed $620 million in the past 24 hours, with ETH traders facing the highest impact.

According to Coinglass data, $464 million in long positions and $157 million in short positions were liquidated. As pointed out by Bybit CEO Ben Zhou in an X post, actual liquidations could be even higher due to API limitations.

On-chain data showed that both short-term and long-term holders contributed to the selling pressure, realizing $1.2 billion in losses over the past three days—the highest since Sept. 2023.

The market sentiment turned bearish following President Donald Trump's tariff increases on Mexico, Canada, and China. As noted by Nick Forster, founder of Derive, ETH options currently price in a 14% chance of ETH reaching $2,000 before March 28.

Additionally, 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.

However, institutional movements and whale accumulation might signal potential support. A whale wallet tagged “7 Siblings” purchased 50,429 ETH (around $126 million) after the market downturn, according to 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.

The 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.

Nevertheless, analysts are predicting 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.

Meanwhile, 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 is still trapped in a descending channel, with sellers dominating the market.

Despite this decline, whale accumulation remains strong. Onchain Lens reported a whale purchasing 124.09 billion BONK (around $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.