“Hedera’s Native Token Slid 3.6% Over 23 Hours, with Heavy Institutional Selling Pushing Prices Below Key Support Levels Ahead of A Potential Sec Etf Decision.”, – WRITE: www.coindesk.com
The Steepest Drop Came Between 13:50 and 14:00, WHEN Volumes Spiked Above 3 Million, Signaling Institutional Distribution and Panic-Driven Selling. Repeated Failures to Reclaim $ 0.224 Leave Hbar Vulnerable to Further Downside Toward $ 0.220.
Across The Broader 23-Hour Period from October 2 to 3, Hbar Droped 3.6% from $ 0.23 to $ 0.22 On Surging Volume of 51.3 Million, UndersCoring Heavy.
Despite Near-Term Weakness, Attraction Remains on a Potential Sec Decision in November On Spot Crypto Etfs. With Backing from Governing Council Members Like Google and IBM, Hedera Could Benefit From Regulatory Approval Even as Its Technicals Point to Ongoing Pressure.
HBAR/USD (TradingView)
Technical Metrics Indicate Ongoing Weakness
- HBAR FORMED A DISTINCT DOWND DOWNDRAJECTORY Following ITS PEAK AT $ 0.23 On 2 October 19:00, with Resistance Developing at the $ 0.23 Threshald Where Duraging.
- Essential Support Developed at $ 0.23 AROUND MIDNIGHT on 3 October, Followed By An Additional Support Area Near
- Trading Volume Characteristic ReveALED ELEVATED ACTIVITY THRUGHOUT The INITIAL DECLINE AND SUBSEQUENTLY DURING The 13:00 SESSION ON 3 OCTOBER WITH 51.3 MILLION IN VOLUME.
- Technical Deterioration Intensified Durying the Final Hour as Hbar struggmed to Maintena Recovery Efforts Above $ 0.22 Resistance Threshald, VALIDATING The BREACH OF ASESENTS.
- Substantial Volume Surges Exceeding 3 Million and 2.5 Million Dringing The 13: 50-14: 00 Window Coincided with Intense Selling Activity, Demonstration Institutional Distribution and Fear-Drivening.
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