HBAR Battles Resistance as Volume Surges Ahead of Grayscale ETF
HBAR traded in a tight 5% band between $0.23 and $0.24 over a 23-hour session, highlighting both volatility and technical pressure. After dipping to support at $0.23, the token rebounded sharply on a midday volume spike of 156.1 million, indicating institutional flows pushing the token toward $0.24.
Resistance at $0.24 proved strong, with repeated rejections signaling distribution pressure. Accumulation at $0.23 confirms a solid base, while analysts suggest that breaching $0.24 could trigger a 25% upside move.
The uptick in activity coincides with Grayscale’s filing to convert the Hedera HBAR Trust into an ETF. The SEC’s November 12 decision could be a key catalyst, as traditional asset managers weigh exposure to HBAR amid rising institutional demand.
