Hedera Gains on Strong Volume as Institutional Interest Grows
Hedera (HBAR) edged higher, holding support above $0.1427 amid a measured rally supported by elevated trading volume and growing institutional activity. The move mirrored broader crypto market strength, with HBAR diverging just 0.25% from the CD5 index.
The session saw a series of higher lows, highlighted by a volume spike at 14:00 UTC when 165.32 million tokens traded—138% above the 24-hour average. This coincided with a volatile rejection near $0.1467 resistance, while support held at $0.1427, reinforcing the ascending trendline from $0.1411.
Institutional momentum was bolstered as Canary Capital’s HBAR ETF became tradable via Vanguard, while Georgia’s decision to migrate its land registry to Hedera added fundamental support. HBAR remains sensitive to broader market trends, particularly bitcoin and ether.
Technical Highlights:
- Support/Resistance: $0.1427 support; $0.1467 resistance; ascending trendline intact.
- Volume: 165.32M token spike (138% above SMA) confirms institutional flows.
- Patterns: V-shaped 60-minute recovery; ascending channel maintains bullish bias.
- Targets/Risk: Immediate upside to $0.1467, extension to $0.148; downside risk at $0.1427 and trendline.
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