Hedera’s native token, HBAR, fell 3.25% to $0.1925 in the 24 hours ending October 30, despite the launch of its first US-exchange-listed fund.
The sale followed Canary Capital’s HBAR ETF debut on NASDAQ, a milestone for non-bitcoin digital assets.
The token initially rallied more than 25% after the announcement, but the enthusiasm quickly faded as earnings set.
While the ETF marks a regulatory and institutional victory for hedera, technical factors are being overlooked by foundations. HBAR broke key support levels, confirming bearish momentum and triggering accelerated selling pressure.
Market data suggests the decline is part of a broader pattern of controlled selling in digital assets. Elevated trading volumes, nearly 20% above normal levels, indicate that larger players may be locking in profits from the ETF-driven rally.
Key technical levels continued pressure for HBAR
Support/Resistance
- The critical support at $0.2040 was broken during the 24 hours.
- The new resistance formed in the $0.2070-$0.2080 zone after multiple rejections.
Quantitative Assessment
- Strong selling pressure with 261.2m tokens traded, 87% above the 24-hour average.
- Most of the significant volume activity took place on 30 October at 04:00 as the price broke through the technical levels.
Chart patterns
- The bearish trend established with successive lower highs from the $0.2114 peak.
- Total coverage of $ 0.0203 (9.9%); The price fell from $0.194 to $0.192 amid massive volume spikes.
Targets and Risk/Reward
- The 60-minute analysis indicates further downside towards $0.190.
- Momentum indicators show severely oversold conditions, confirming accelerated institutional selling.
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