HBAR fell 3.5% from $0.1817 to $0.1754 during Wednesday’s session, breaking key support despite institutional inflows reaching $68 million through ETF channels.
The token was rejected at $0.1805 resistance following a morning spike that peaked at $0.1802 on heavy volume, 79% above daily averages.
Volume dried up after the morning’s initial rise, suggesting institutional buyers retreated while retail participants fueled late session weakness. The 4.5% intraday range reflects increased volatility despite subdued conditions in the cryptocurrency market.
HBAR’s price weakness stands in stark contrast to institutional positioning through the Canary HBAR ETF, which has accumulated $68 million over six trading sessions. A total of thirteen ETF filings now include HBAR exposure, signaling a growing institutional appetite for exposure to the Hedera ecosystem.
Key Technical Levels Signal Extended Weakness for HBAR
- Support/Resistance: Critical support at $0.1740 is now being tested with resistance firmly established at $0.1805 following multiple rejections.
- Volume analysis: The morning peak reaching 125.8 million shares marked 79% above averages but generated insufficient follow-on buying.
- Chart templates: The distribution structure confirms bearish momentum with consecutive lower highs signaling continued bearish pressure.
- Targets and risk/reward: Immediate targets point to a support zone of $0.1720 to $0.1700 with upside capped at a resistance barrier of $0.1805.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
