HBAR retreated 3.5% from $0.1817 to $0.1754 during Wednesday’s session, breaking key support despite institutional flows of $68 million through ETF channels.
The token faced rejection at $0.1805 resistance after a morning spike that peaked at $0.1802 on significant volume – 79% above daily averages.
Volume dried up after the initial morning surge, suggesting institutional buyers retreated while retail participants drove weakness in the late session. The 4.5% interday range reflects increased volatility despite subdued cryptocurrency market conditions.
HBAR’s price weakness contrasts sharply with institutional positioning through the Canary HBAR ETF, which accumulated $68 million over six trading sessions. Thirteen total ETF filings now include HBAR exposure, signaling increasing institutional appetite for Hedera ecosystem exposure.
Key Technical Levels Signal Extended Weakness for HBAR
- Support/Resistance: Critical support at $0.1740 now tested with resistance firmly established at $0.1805 after multiple rejections.
- Volume analysis: Morning gains of 125.8 million shares marked 79% above average but generated insufficient follow-on buying.
- Chart Patterns: The distribution structure confirms bearish momentum with successive lower highs signaling continued downward pressure.
- Objectives and risk/reward: Immediate targets point towards $0.1720-$0.1700 support zone with an upside limit of $0.1805 resistance barrier.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
