HBAR Drops Sharply as Technical Breakdown Signals Extended Downward Pressure

HBAR Drops 3.6% Amid Institutional Selling, Technical Weakness Persists

Hedera’s native token (HBAR) declined 3.6% over 23 hours, driven by heavy institutional selling that pushed the price below key support levels ahead of a potential SEC ETF decision.

On October 3, selling pressure intensified in the final trading hour. After briefly reaching $0.224, HBAR fell to $0.222, breaching critical support and closing the session down 0.9%.

The sharpest decline occurred between 13:50 and 14:00, when trading volumes spiked above 3 million, signaling institutional distribution and panic-driven selling. Repeated failures to reclaim $0.224 leave HBAR at risk of further downside toward $0.220.

Over the 23-hour period from October 2 to 3, HBAR dropped from $0.23 to $0.22 on 51.3 million in volume, underscoring significant institutional activity behind the selloff.

Despite near-term weakness, attention remains on a potential SEC decision in November regarding spot crypto ETFs. With backing from governing council members like Google and IBM, Hedera could benefit from regulatory approval even as technicals suggest continued pressure.

Technical Analysis Highlights Bearish Momentum

Since peaking at $0.23 on October 2 at 19:00, HBAR has followed a downward trajectory, with resistance forming at that level as multiple recovery attempts failed. Key support levels at $0.23 and $0.22 have been repeatedly tested but remain vulnerable under sustained selling pressure.

Volume patterns show elevated activity during the initial decline and again in the 13:00 session on October 3, with 51.3 million tokens traded, indicating strong institutional involvement.

Technical deterioration intensified in the final hour as HBAR struggled to maintain levels above $0.22, confirming the breakdown of key support thresholds. Volume surges exceeding 3 million and 2.5 million between 13:50 and 14:00 aligned with aggressive selling, reflecting institutional distribution and fear-driven trading.