HBAR retreated 3.5% from $0.1817 to $0.1754 during Wednesday’s session, breaking key support despite institutional flows reaching $68 million through ETF channels.
The token faced rejection with resistance at $0.1805 following a morning spike that hit a high of $0.1802 on significant volume, 79% above daily averages.
Volume dried up following the morning’s initial surge, suggesting institutional buyers took a step back, while retail participants fueled weakness late in the session. The 4.5% intraday range reflects higher volatility despite weak cryptocurrency market conditions.
HBAR’s price weakness is in stark contrast to institutional positioning through the Canary HBAR ETF, which amassed $68 million in six trading sessions. Thirteen ETF filings in total now include HBAR exposure, indicating a growing institutional appetite for exposure to the Hedera ecosystem.
Key Technical Levels Indicate Extended Weakness for HBAR
- Support/Resistance: Critical support at $0.1740 is now tested with firmly established resistance at $0.1805 following multiple rejections.
- Volume analysis: The morning peak of 125.8 million shares marked 79% above averages but generated insufficient follow-on buying.
- Chart Patterns: The distribution structure confirms the bearish momentum with consecutive lower highs indicating continued bearish pressure.
- Objectives and risk/reward: Immediate targets point towards the $0.1720-$0.1700 support zone with the upside limited to the $0.1805 resistance barrier.
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