HBAR Slides 3.5% as Support Breaks Despite $68M ETF Inflows
Hedera’s HBAR fell 3.5% on Wednesday, retreating from $0.1817 to $0.1754, breaking a key support level even amid robust institutional accumulation.
The token briefly surged to $0.1802 before hitting resistance at $0.1805, with volume 79% above the daily average. Following the morning spike, trading slowed, suggesting institutional buyers stepped back while retail activity drove late-session weakness. HBAR’s 4.5% intraday swing underscores elevated volatility despite calm conditions across the wider crypto market.
Institutional appetite remains strong, with the Canary HBAR ETF accumulating $68 million over six sessions. Overall, thirteen ETFs now hold HBAR, reflecting growing interest from institutional investors in the Hedera ecosystem.
Technical Overview:
- Support/Resistance: Immediate support at $0.1740 is under pressure, while resistance remains at $0.1805 following repeated rejections.
- Volume Analysis: Morning peak of 125.8 million tokens signaled buying interest, but momentum faded.
- Chart Patterns: Consecutive lower highs indicate a bearish distribution structure, signaling continued downside risk.
- Targets: Near-term downside may test $0.1720–$0.1700, with upside capped at $0.1805.
HBAR’s short-term outlook is shaped by a tug-of-war between institutional accumulation and retail-driven volatility, keeping the token rangebound but closely watched by traders.
