HBAR showed remarkable resilience in the 24-hour period between October 7 and October 8, where he climbed approx. 2% from the session lower near $ 0.22 to settle down around the same level. The token traded within a tight interval, repeatedly tested support and resistance to $ 0.22.
Despite a steep fall in trade volume from 138.43 million to 19.74 million tokens-up HBAR a stable consolidation pattern that suggested reduced short-term participation but a stable accumulation phase.
Momentum built resolutely during the last trade hour when Har broke out of its compressed formation between 13:12 and 14:11 UTC on October 8. After briefly withdrawing to an intraday -low of $ 0.22, Cryptocurrency turned sharply, violating resistance levels and printing new session heights over $ 0.22.
The technical outbreak coincided with wider market optimism around Hedera’s ecosystem. Institutional enthusiasm continues to grow as Canary capital is nearing the end of its location of HBAR ETF – designated under the Ticker “HBR” with a 0.95% management fee – although regulatory progress has been temporarily delayed by the ongoing US government’s shutdown that has slowed down SEC operations.
Technical indicators
- HBAR maintained trading activity within a limited $ 0.01 bandwidth in a full 24-hour session, swinging between $ 0.22 and $ 0.22.
- Repeated studies of support foundations around $ 0.22 and resistance barriers near $ 0.22 defined crucial technical parameters.
- Crucial rejection from $ 0.22 at. 01:00, followed by Retracement for $ 0.22 validated resistance positioning.
- Trade volume contracted significantly from 138.43 million to 19.74 million tokens in the initial stages, indicating reduced momentum.
- Improved volume that surpasses 4.3 million tokens in 14:02 interval, indicated institutional commitment.
- Crucial turn from session minimum of $ 0.22 at. 13:45 validated the conclusion of the consolidation dynamics.
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