Hedera Slides as Technical Selling Overshadows ETF Speculation
Hedera’s HBAR fell 2.2% on Thursday as technical selling outweighed optimism surrounding potential institutional products. The token broke below $0.1380 support, with trading volume spiking 47% above the daily average, peaking at 52.21 million HBAR around 09:00 GMT, driving session lows to $0.1367.
HBAR recently tested $0.1354 support, briefly dipping below on 2.37 million tokens before bouncing back to roughly $0.1361. While oversold conditions are emerging, bearish momentum remains, leaving traders cautious.
Interest in Canary Capital Group’s HBAR ETF could support longer-term demand, but short-term price action continues to follow technical trends.
Key Technical Levels:
- Support: $0.1354, with a consolidation floor at $0.1357
- Resistance: $0.1380–$0.1391
- Volume: Breakdown confirmed, late-session decline hints at exhaustion
- Trend: Downtrend persists, range-bound between $0.1354–$0.1380
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