HBAR showed notable resistance in the 24-hour period between October 7 and 8, rising approximately 2% from session lows near $0.22 to settle around the same level. The token traded within a tight range, repeatedly testing support and resistance at $0.22.
Despite a sharp drop in trading volume (from 138.43 million to 19.74 million tokens), HBAR maintained a steady consolidation pattern, hinting at reduced short-term participation but a stable accumulation phase.
Momentum was built decisively during the last hour of trading, when HBAR broke out of its compressed formation between 13:12 and 14:11 UTC on October 8. After briefly pulling back to an intraday low of $0.22, the cryptocurrency reversed sharply, breaking through resistance levels and printing new session highs above $0.22.
The technical breakout coincided with broader market optimism around the Hedera ecosystem. Institutional enthusiasm continues to grow as Canary Capital nears completion of its HBAR spot ETF filing (proposed under the symbol “HBR” with a 0.95% management fee), although regulatory progress has been temporarily delayed by the ongoing US government shutdown that has slowed SEC operations.
Technical Indicators
- HBAR maintained trading activity within a limited bandwidth of $0.01 during the 24-hour session, fluctuating between $0.22 and $0.22.
- Repeated examinations of the support bases around $0.22 and resistance barriers near $0.22 defined crucial technical parameters.
- The decisive rejection from $0.22 at 01:00 was followed by a pullback to the validated resistance positioning of $0.22.
- Trading volume contracted substantially from 138.43 million to 19.74 million tokens during the initial phases, indicating reduced momentum.
- Improved volume exceeding 4.3 million tokens during the 14:02 interval indicated institutional commitment.
- The decisive reversal of the session low of $0.22 at 13:45 validated the conclusion of the consolidation dynamics.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
