HBAR surged 25.7% over 24 hours, climbing from $0.1775 to $0.2052 as trading volume spiked 182% above the daily average. The rally coincided with the launch of the Canary Capital spot HBAR ETF (ticker: HBR) on the NYSE, following SEC approval.
The debut marked a milestone for institutional access to Hedera, offering regulated exposure through BitGo and Coinbase Custody, with pricing data sourced from CoinDesk Indices. This development placed HBAR alongside Bitcoin and Ethereum in the roster of institutionally tradable digital assets.
The breakout began around 06:00 on October 28, when HBAR decisively cleared the $0.2060 resistance level that had limited previous advances. Strong buying support emerged at the $0.2000 psychological level, sustaining upward momentum through the European session. The token consolidated above $0.2050, reflecting steady accumulation following the ETF-driven surge.
However, late-session trading revealed signs of institutional distribution as HBAR reversed from $0.209 to $0.205, slipping below its $0.206 support. Elevated selling volumes confirmed profit-taking by large holders, suggesting near-term exhaustion after the sharp rally. This breakdown introduces the risk of a retest of the $0.200 level, a critical area for preserving bullish structure.
Key Technical Levels Signal Mixed Outlook for HBAR
Support / Resistance
- Primary Support: $0.2000 (psychological level)
- Secondary Support: $0.1950
- Key Resistance: $0.2060 (breakout level)
- Additional Resistance: $0.2100 – $0.2192 (selling pressure zone)
Volume Analysis
- 182% surge above 24-hour SMA — signals institutional interest during breakout phase
- Declining volume during consolidation phase
- Elevated selling volume during recent pullback — suggests profit-taking activity
Chart Patterns
- Ascending trend with multiple higher lows across the 24-hour period
- Breakdown below $0.206 support indicates potential double-top formation near $0.209 highs
Technical analysis
- Upside Targets:
- $0.2100
- $0.2192 (session highs)
- Dependent on reclaiming $0.206 support
- Downside Risk:
- Toward $0.2000 psychological support (≈ 2.5% decline)
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.