HBAR Slides 3.6% Amid Heavy Institutional Selling, Technical Weakness Intensifies
Hedera’s native token (HBAR) fell 3.6% over 23 hours, with significant institutional selling pushing prices below critical support ahead of a potential SEC ETF decision.
On October 3, selling pressure accelerated, particularly during the final trading hour. After briefly hitting $0.224, HBAR dropped to $0.222, breaching key support and ending the session down 0.9%.
The steepest decline occurred between 13:50 and 14:00, with volumes exceeding 3 million, signaling institutional distribution and panic-driven selling. Multiple failed attempts to reclaim $0.224 leave HBAR vulnerable to further losses toward $0.220.
Over the 23-hour span from October 2 to 3, HBAR declined from $0.23 to $0.22 on 51.3 million in trading volume, underscoring heavy institutional involvement.
Despite near-term weakness, market attention remains on a potential SEC decision in November regarding spot crypto ETFs. With backing from Hedera governing council members such as Google and IBM, the token could benefit from regulatory approval even as technical indicators suggest continued downward pressure.
Technical Analysis Points to Continued Weakness
HBAR has followed a downward trajectory since its $0.23 peak on October 2 at 19:00, with resistance forming at that level where recovery attempts repeatedly failed. Support levels around $0.23 and $0.22 have been tested but remain fragile under sustained selling.
Trading volumes spiked during the initial decline and again in the 13:00 session on October 3, reflecting strong institutional participation in the bearish move.
Technical deterioration intensified in the final hour as HBAR struggled to hold above $0.22, confirming the breach of key support. Volume surges exceeding 3 million and 2.5 million between 13:50 and 14:00 coincided with aggressive selling, highlighting institutional distribution and fear-driven market behavior.
