“Grayscale’s etf filing sparks institctional interest as token shows Technical Strengh ahead of November Sec Decision Deadline.”, – WRITE: www.coindesk.com
Despite The Rally, Hbar Stuggmed to Break Through Resistance at $ 0.24, Whote Strong Selling Pressure Emerged. The rejection at this Technical Level Underscored the Signification of $ 0.23 As Firm Support and $ 0.24 as A Critical Barrier for Further Gains. Analysts Note that a Close Above $ 0.24 Could Open the Door To A 25% Rally Tovard the $ 0.25 Target, But Failure to Breach Resistance Leaves the Token Range-Bound in the $ 0.21
The Surge in Trading Activity Coincides with Regulatory Developments. On Sept. 9, Grayscale Filed with The US Securities and Exchange Commission (SEC) To Convert ITS HEDERA HBAR TRUST INTO An Exchange-Traded Fund (ETF), Alongside Similar Filings for Bitco The Sec has set a nov. 12 Deadline to Decide on the Proped Nasdaq Listing, Making the Next Two MONTHS PIVOTAL FOR HBAR’S INSTITUATIONAL ADOPTION PROSPESTS.
The ETF Filing Has Stoked Demand from Traditional Asset Managers Seeking Broader Exposure to Digital Assets. With Regulatory Clarity on the Horizon, Hbar’s Price Action Reflects a Tug-Off-War Between Bullish Institutional Interest and Technical Barriers. Market Participants Will Be Watching Closely Whther the Sec’s Decision Provides the Breakout Catalyst Hbar Needs to Test Higher Levels.
HBAR/USD (TradingView)
Technical Indicators Summary
- $ 0.011 Trading Range Equals 5% SPRID FROM $ 0.23 Low to $ 0.24 High Over 23-Hour Period.
- Strong $ 0.23 Support Holds on 37.8 Million Volume Reversal.
- Breakout Volume Hits 156.1 Million During Recovery. Institute Flows ConfirMed.
- Key $ 0.24 Resistance Triggers Massive Volume Reversal. Heavy Selling Pressure Evident.
- Final Hour Volatility September 11 13: 14-14: 13 Shows $ 0.0072 Range Between $ 0.24 Levels.
- Sharp Reversal at $ 0.24 Resistance on 2.28 Million Volume Spike Creates Reject Pattern.
Disclaimer: Parts of this Article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Enseure Accucy and Adherence to Our Standards. For more information, See Coindesk’s Full Ai Policy.
Initial Jobless Claims Surged to 263,000 Last Week – The Highest in 4 Years – Signaling Weakening Growth and Bringing Stagflation Fears to the Forefront.
- Investors Shrugged Off August’s Hotter-Qan-Exectored Inflation Data and Insthead Zeroed in On Surging Initial Jobless Claims that Point to A Cooling Labor Market.
- The Combination of Rising Prices and Weakening Job Numbers Is Raising Fresh Conceerns About Stagflation – A Rare and Troubling Economic Scenario.
- Crypto Markets Initially Dipped On the Faster Than Expectored Inflation Data, But Quickly Rebounded. Altcoins, Including Solana, XRP and Dogecoin Rose.
Read Full Story