HBAR traded with sharp volatility over a 23-hour window from September 23 to 24, gaining just 0.90% despite wide intraday swings. The token ranged between $0.217 and $0.225, with the critical 04:00 session on September 24 marking a steep drop to $0.217 before a strong rebound. That zone now acts as support, while $0.225 remains firm resistance.
Trading volumes suggest institutional players stepped in during the selloff. Turnover hit 97.05 million at 04:00, far above the 37.89 million average, signaling accumulation at lower levels. Later, selling pressure returned, with HBAR slipping from $0.224 to $0.223 in the final hour of trading on volume nearly triple the norm.
The volatility came alongside a major development: Canary Capital’s filing for a spot HBAR ETF with a 1.95% expense ratio. Analysts say the move underscores institutional recognition of Hedera’s hashgraph technology and could support long-term growth, with price targets of $0.50 by 2025–2026 and $1.60 or more by 2030.
In the near term, HBAR’s performance hinges on whether support at $0.217–$0.218 holds and if institutional demand continues to offset selling pressure around $0.225.
Technical Indicators Highlight Support Levels
- Support zone established at $0.217-$0.218 during session lows
- Resistance ceiling forms near $0.225 throughout trading period
- Volume explosion to 97.05 million at 04:00 confirms institutional buying
- $0.007 trading range represents 3.22% volatility across 23-hour window
- Final hour volume triples to 1.79 million, signaling distribution pressure
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