HBAR Dips 3.5%, Breaks Key Support Despite $68M ETF Inflows
Hedera’s HBAR declined 3.5% on Wednesday, sliding from $0.1817 to $0.1754, breaching a critical support level even as institutional buying remained strong.
The token briefly climbed to $0.1802 before encountering resistance at $0.1805, with trading volume 79% above the daily average. After the morning surge, activity slowed, suggesting institutional buyers paused while retail participants drove the late-session pullback. HBAR’s 4.5% intraday range reflects heightened short-term volatility despite muted conditions in the broader crypto market.
Institutional demand remains notable through the Canary HBAR ETF, which accumulated $68 million over six sessions. In total, thirteen ETFs now hold HBAR, highlighting growing institutional exposure to the Hedera ecosystem.
Technical Snapshot:
- Support/Resistance: Immediate support at $0.1740 faces pressure, while resistance holds firm at $0.1805 after repeated rejections.
- Volume: Morning peak of 125.8 million tokens indicated strong buying interest, but momentum quickly waned.
- Chart Patterns: Consecutive lower highs suggest a bearish distribution pattern, signaling potential continued downside.
- Targets: Near-term downside may test $0.1720–$0.1700, while upside is capped at $0.1805.
HBAR remains rangebound, with institutional accumulation partially offsetting retail-driven volatility. Traders are watching closely to see if the token can reclaim support or extend its short-term decline.
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