HBAR Slips 3.6% as Institutional Selling Pushes Token Below Key Support
Hedera’s native token (HBAR) fell 3.6% over 23 hours, pressured by heavy institutional selling ahead of a potential SEC ETF decision.
On October 3, the token faced intensified selling, particularly in the final hour of trading. After briefly climbing to $0.224, HBAR dropped to $0.222, breaching critical support and closing the session down 0.9%.
The sharpest decline occurred between 13:50 and 14:00, when volumes surged above 3 million, signaling institutional distribution and panic-driven selling. Repeated failures to regain $0.224 leave HBAR vulnerable to further downside toward $0.220.
Across the 23-hour period from October 2 to 3, HBAR slid from $0.23 to $0.22 on a total volume of 51.3 million, highlighting significant institutional activity driving the selloff.
Market attention remains focused on a potential SEC decision in November regarding spot crypto ETFs. Hedera, backed by governing council members including Google and IBM, could see upside from regulatory approval even as technicals point to continued pressure.
Technical Overview
Since peaking at $0.23 on October 2 at 19:00, HBAR has trended downward, with resistance forming at that level where multiple recovery attempts failed. Support levels near $0.23 and $0.22 have been repeatedly tested but remain fragile under ongoing selling pressure.
Volume analysis shows elevated activity during the initial decline and again during the 13:00 session on October 3, with 51.3 million tokens traded, reflecting strong institutional participation.
Technical deterioration intensified in the final hour as HBAR struggled to maintain levels above $0.22, confirming the breach of critical support. Volume spikes above 3 million and 2.5 million between 13:50 and 14:00 coincided with aggressive selling, underscoring institutional distribution and fear-driven market behavior.
