HBAR price drops 3.5% despite $68M institutional ETF inflows. It breaks key support amid market volatility and mixed signals.
HBAR retreated 3.5% during Thursday’s session. Its price moved from $0.1617 to $0.1761. This drop came even as institutional flows rose to $68 million through ETF channels. The token was met with rejection at $0.1805 resistance level. This followed a morning spike, which peaked at $0.1802 on significant volume. This volume was 79% higher than daily averages, so there was strong early interest.
HBAR’s Price Action Amidst Institutional Interest and Technical Resistance
HBAR currently trades near $0.18. It is holding steady within a giant symmetrical structure. The accumulation phase of the disease continues. This phase is occurring between the $0.17 support and $0.20 resistance levels. A breakout above $0.20 may cause an early bullish reversal. This could be pushing the price towards $0.23.
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HBAR dropped 3.5% from $0.1817 to $0.1754. It broke key support levels. This occurred even as institutional investment in the form of exchange-traded funds (ETFs) amounted to $68 million. While there was a morning spike in the price, there was a quick drying up of the volume. Then a sell-off near the end of the session took the token down far.
This price drop can be attributed to a number of things. Institutional profit-taking is one reason. Despite the inflows, institutional buyers may have panicked after the surge in the morning. This enabled selling pressure from the retail sector to take over. As a result, this undermined the price.
Contrasting signals were involved, too. HBAR’s drop in price contrasts with the increased interest from institutions. This interest is shown by accumulating inflows of ETFs. This sends mixed signals which contribute to the volatility of the market. The key Support Level also broke. It met with strong resistance at $0.1805. Some of these technical factors further contributed to the downward trend.
Furthermore, the overall cryptocurrency market has been subdued. However, there was high volatility in HBAR. It showed a 4.5% intraday range. This shows increased price movements in what was in fact a relatively calm market.
Hedera’s Technology and Growing Institutional Exposure
HBAR: It is the native token of Hedera. Hedera is a distributed ledger technology. It is based on a hashgraph consensus algorithm. This is unlike a traditional blockchain. This technology provides faster, more efficient and more secure transactions.
A council of global organizations rules over the Hedera network. Its network is used for a number of services. These include: smart contracts, tokenization and file storage. This is a robust infrastructure to support diverse applications.
Volume subsided after the initial morning rush. This implies that institutional buyers backpedaled. The late session weakness was driven by retail participants. The 4.5% intraday range is indicative of increased volatility. This was done even in the face of generally muted cryptocurrency market conditions.
HBAR’s price weakness is in stark contrast to institutional positioning. The Canary HBAR ETF added up to $68 million in six trading sessions. Thirteen total ETF filings are now HBAR exposure. This is an indicator of institutional appetite for Hedera ecosystem exposure. Despite such a short-term price dip, the underlying institutional interest is strong.
