Hedera Slides Amid Technical Selling Despite ETF Optimism
Hedera’s HBAR fell 2.2% on Thursday as technical pressures outweighed optimism around potential institutional products. The token broke below $0.1380 support, with trading volume rising 47% above its daily average, peaking at 52.21 million HBAR around 09:00 GMT, pushing prices to session lows near $0.1367.
HBAR recently tested critical support at $0.1354, briefly dipping below on 2.37 million tokens before rebounding to around $0.1361. While technical indicators point to oversold conditions, bearish momentum remains in the short term.
Interest in Canary Capital Group’s HBAR ETF could provide structural demand over the longer term, but short-term price action continues to follow technical trends.
Technical Snapshot:
- Support/Resistance: Primary support at $0.1354, with a consolidation floor at $0.1357; resistance cluster $0.1380–$0.1391
- Volume: Breakdown confirmed by high volume; late-session decline suggests exhaustion
- Trend: Downtrend persists with lower highs; range-bound between $0.1354–$0.1380
